“Greater than 4.15 crore Revenue Tax Returns for AY 2020-21 have already been filed until 26th of December, 2020. Hope you’ve filed yours too!,” the division tweeted.
This contains over 2.34 crore taxpayers submitting ITR-1, over 89.89 lakh submitting ITR-4, over 49.72 lakh ITR-3 and over 30.36 lakh submitting ITR-2.
The deadline to file ITR by particular person taxpayers for FY2019-20 ends on December 31, 2020, whereas the identical for taxpayers whose accounts require to be audited is January 31, 2021.
The due date has been prolonged from July 31 and October 31, 2020, respectively in view of the COVID-19 pandemic.
On the shut of deadline for submitting ITR with out fee of late charges for FY2018-19 (AY 2019-20), over 5.65 crore returns had been filed by taxpayers. The deadline final yr was prolonged until August 31, 2019.
Giving a comparative evaluation of the ITRs filed, the I-T division stated 4.14 crore ITRs had been filed until August 26, 2019, in comparison with over 4.15 crore filed until December 26, 2020.
Returns in ITR-1 Sahaj may be filed by an ordinarily resident particular person whose complete revenue doesn’t exceed Rs 50 lakh, whereas Form ITR-4 Sugam is supposed for resident people, HUFs and companies (aside from LLP) having a complete revenue of as much as Rs 50 lakh and having presumptive revenue from enterprise and occupation.
Whereas ITR-Three and 6 are filed by companies, ITR-2 is filed by folks having revenue from residential property; ITR-5 is filed by LLP and Affiliation of Individuals (AoPs). ITR-7 is filed by particular person in receipt of revenue derived from property held below belief or different authorized obligation wholly for charitable or spiritual functions or partly just for such functions.