SunstarTV Bureau: With two days left to file income tax returns (ITRs), more than 4.54 crore tax returns for 2019-20 fiscal have been filled till December 29, informed IT department.
In comparison with the last year, 4.77 crore income tax returns were filed. At the close of deadline for filing ITRs without payment of late fees for fiscal 2018-19 (assessment year (AY) 2019-20), over 5.65 crore returns were filed by taxpayers.
In a tweet on Wednesday, the Income Tax department asked taxpayers to file their ITRs by the due date.
The Due Date is almost here. Do not miss the due date. File your #ITR NOW by visiting https://t.co/EGL31K6szN
Aaj hi file karo!#AY2021 #AajHiFileKaro #FileNow@nsitharamanoffc @Anurag_Office @FinMinIndia @PIB_India pic.twitter.com/l8IyTcK1QC
— Income Tax India (@IncomeTaxIndia) December 30, 2020
“More than 4.54 crore Income Tax Returns for AY 2020-21 have already been filed till 29th of December, 2020,” the I-T department said.
The data released by the tax department showed that over 2.52 crore ITR-1 have been filed till December 29, 2020, lower than the 2.77 crore filed till August 29, 2019.
Over 1 crore ITR-4 have been filed till December 29 as compared to 99.50 lakh filed till August 29, 2019.
According to official data individuals filing tax return for fiscal 2019-20 have slowed so far in the current year, while filings by businesses and trusts have increased.
Returns in ITR-1 Sahaj can be filed by an ordinarily resident individual whose total income does not exceed ₹50 lakh, while form ITR-4 Sugam is meant for resident individuals, Hindu Undivided Families (HUFs) and firms (other than LLP) having a total income of up to ₹50 lakh and having presumptive income from business and profession.
Over 33.93 lakh ITR-2 (filed by people having income from residential property) were filed till December 29.
During last year, the due date for filing ITR by individuals who do not need to get their accounts audited was August 31. However, the date has been extended till December 31 this year on account of the COVID-19 pandemic.
ITR-5 (filed by LLP and Association of Persons) filings till December 29, 2020 jumped to 7.09 lakh from 4.14 lakh filed till August 29, 2019. ITR-6 (filed by businesses) filings skyrocketed to over 3.46 lakh till December 29, 2020 as compared to 21,962 filed till August 29, 2019.
ITR-7 (filed by persons having income derived from property held under trust) filings also jumped to over 1.04 lakh till December 29, 2020 as compared to 41,963 till August 29 last year.
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