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Income tax returns of Rs. 415 million or more submitted for fiscal year 2019-2020 as of December 26

New Delhi: More than Rs. 415 million taxpayers have filed their 2020-21 (2019-20) Income Tax Return (ITR) until December 26. Income tax bureau Said on Sunday. As the deadline for submitting ITRs by individuals approaches, Tax department We also urged people to submit their 2020-21 Evaluation Year (AY) ITR early to avoid a last-minute rush.

“The income tax return for 2020-21 over Rs 415 million has already been filed by December 26, 2020. I hope you have filed it too!”, The agency tweeted.

This includes taxpayers over Rs 234 million submitting ITR-1 and over Rs 890,890 and over Rs 49.72 submitting ITR-4. Easy ITR-3 And I will submit ITR-2 of more than 300,360,000 rupees.

The deadline for submitting ITRs by individual taxpayers in 2019-20 is December 31, 2020, and January 31, 2021 for taxpayers who require an account audit.

Due to the COVID-19 pandemic, the deadlines have been extended from 31 July and 31 October 2020, respectively.

At the end of the 2018-19 (2019-20) deadline for filing an ITR without paying late fees, taxpayers filed a tax return of over Rs 565 million. Last year’s deadline has been extended to August 31, 2019.

The IT department conducted a comparative analysis of the submitted ITRs and submitted an ITR of 414 million rupees by August 26, 2019, compared to more than 415 million rupees submitted by December 26, 2020. Said that.

Returns at ITR-1 Sahaj can be submitted by regular residents with a total income of no more than 50 rupees. Form ITR-4 Sugam It is intended for resident individuals, HUFs, and businesses (excluding LLPs), with total income of up to Rs 50 and estimated income from business and profession.

ITR-3 and 6 are submitted by companies, while ITR-2 is submitted by people who earn income from residential real estate. ITR-5 is submitted by LLP and the Association of Persons (AoP). ITR-7 is by a person who has received income from property held under trust or other legal obligation, entirely for philanthropic or religious purposes, or in part only for such purposes. It will be submitted.



Income tax returns of Rs. 415 million or more submitted for fiscal year 2019-2020 as of December 26

https://economictimes.indiatimes.com/news/economy/finance/over-4-15-crore-income-tax-returns-filed-for-the-2019-2020-fiscal-as-of-december-26/articleshow/79978403.cms Income tax returns of Rs. 415 million or more submitted for fiscal year 2019-2020 as of December 26

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