Saturday, July 31, 2021

Income Tax returns filing deadline approaching: Over 5.08 crore ITRs for 2019-20 filed till January 5

The federal government has prolonged the ITR submitting deadline for people until January 10, and for corporations until February 15.

Greater than 5.08 crore revenue tax returns (ITRs) for fiscal 2019-20 have been filed until January 5, the Earnings Tax Division mentioned on Wednesday.

The federal government has prolonged the ITR submitting deadline for people until January 10, and for corporations until February 15.

Additionally Learn — Not submitting ITR of your individual? You might not get revenue tax refund 

“Greater than 5.08 crore Earnings Tax Returns for AY 2020-21 have already been filed until 05th of January, 2021,” the Earnings Tax Division mentioned 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.

Over 2.7 crore ITR-1 have been filed until January 5, decrease than 3.1 crore filed until September 5, 2019.

With regard to ITR-4, it mentioned, 1.16 crore returns have been filed until January 5 as in comparison with 1.28 crore until September 5, 2019.

Additionally Learn — Earnings Tax refunds price Rs 1.64 lakh cr issued to 1.41 cr taxpayers until January 4

Returns in ITR-1 Sahaj are filed by people whose complete revenue doesn’t exceed Rs 50 lakh, whereas kind ITR-4 Sugam is supposed for people, Hindu Undivided Households (HUFs) and corporations (apart from Restricted Legal responsibility Partnership ) having a complete revenue of as much as Rs 50 lakh and having presumptive revenue from enterprise and career.

Over 38 lakh ITR-2 (by folks having revenue from residential property) had been filed until January 5, 2021. ITR-5 (by LLP and Affiliation of Individuals) filings stood at 8.48 lakh, whereas ITR-6 (by companies) filings had been 4.11 lakh.

Additionally Learn — Funds 2021 Expectations: Ought to widespread taxpayer count on main rationalization in revenue tax slabs and charges?

ITR-7 (by individuals having revenue derived from property held below belief) filings stood at 1.23 lakh until January 5.

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