Income Tax Returns: Over 5.08 Crore ITRs for 2019-20 Filed Till January 5, 2021

New Delhi, January 6: More than 5.08 crore income tax returns (ITRs) for fiscal 2019-20 have been filed till January 5, the Income Tax Department said on Wednesday. The government has extended the ITR filing deadline for individuals till January 10, and for companies till February 15.

"More than 5.08 crore Income Tax Returns for AY 2020-21 have already been filed till 05th of January, 2021," the Income Tax Department said in a tweet.

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

Over 2.7 crore ITR-1 have been filed till January 5, lower than 3.1 crore filed till September 5, 2019. With regard to ITR-4, it said, 1.16 crore returns have been filed till January 5 as compared to 1.28 crore till September 5, 2019. Income Tax Return Filing Date for Financial Year 2019-2020 Extended till January 10, 2021 for Individual Tax Payers; CGST Filing Extended till February 28.

Returns in ITR-1 Sahaj are filed by individuals whose total income does not exceed Rs 50 lakh, while form ITR-4 Sugam is meant for individuals, Hindu Undivided Families (HUFs) and firms (other than Limited Liability Partnership ) having a total income of up to Rs 50 lakh and having presumptive income from business and profession.

Over 38 lakh ITR-2 (by people having income from residential property) were filed till January 5, 2021. ITR-5 (by LLP and Association of Persons) filings stood at 8.48 lakh, while ITR-6 (by businesses) filings were 4.11 lakh. ITR-7 (by persons having income derived from property held under trust) filings stood at 1.23 lakh till January 5.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)