Revenue Tax Returns: Over 5.27 crore ITRs filed for fiscal 2019-20 until Jan 7


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Revenue Tax Returns: Over 5.27 crore ITRs filed for fiscal 2019-20 until Jan 7

Greater than 5.27 crore earnings tax returns (ITRs) for fiscal 12 months 2019-20 have been filed until January 7, the Revenue Tax Division stated on Friday. The federal government has prolonged the ITR submitting deadline for people until January 10, and for firms until February 15.

“Greater than 5.27 crore Revenue Tax Returns for AY 2020-21 have already been filed until 07th of January, 2021,” the Revenue Tax Division stated in a tweet.

The deadline for people to file ITRs for 2018-19 was August 31, 2019 and over 5.63 crore ITRs had been filed.

About 2.eight crore ITR-1 returns have been filed until January 7, decrease than three.1 crore filed until September 7, 2019.

With regard to ITR-Four, it stated 1.23 crore returns have been filed until January 7 as in comparison with 1.29 crore filed until September 7, 2019.

Returns in ITR-1 Sahaj are filed by people whose whole earnings doesn’t exceed Rs 50 lakh, whereas kind ITR-Four Sugam is supposed for people, Hindu Undivided Households (HUFs) and companies (aside from Restricted Legal responsibility Partnerships) having a complete earnings of as much as Rs 50 lakh and having presumptive earnings from enterprise and occupation.

Over 40 lakh ITR-2 (filed by folks having earnings from residential property) had been filed until January 7, 2021.

ITR-5 (filed by LLPs and Affiliation of Individuals) filings stood at eight.93 lakh, whereas ITR-6 (by companies) filings had been at Four.30 lakh.

ITR-7 (filed by individuals having earnings derived from property held underneath belief) filings stood at 1.29 lakh until January 7.

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