Laws & Taxes

~ 3.75 Crore ITRs filed for Assessment Year 2019-2020 till 21 December

income tax returns

Taxpayer income tax returns have already been filed by December 21 for the assessment year 2020-2021. Approximately 3.75 crore ITRs have been filed by taxpayers for the year 2020-2021 till December 21.

The group of taxpayers is divided as

  • 2.17 crore taxpayers filed ITR 1.
  • Around 79.82 Lakh filed ITR 4.
  • 43.18 Lakhs have filed ITR 3.
  • Around 26.56 lakhs filed ITR 2.

The deadline for filing income tax returns expires on December 31

Due to the covid-19 pandemic the date had been extended in many times. When the date extended from 31 July to 31 October,  in this period of time about 5.65 income tax returns have been filed by taxpayers.

According to the IT department, around 3.63 crores ITRs were filed till August 21, 2019 compared to 3.75 crore ITRs were filed till December 21, 2020.

The due date of income tax return file is now further extended till December 31.

Categories of ITR- 3.75 Crore ITRs

Income tax redistribution has divided their return filings into different categories so that taxpayers can easily file their returns without any problems.

The return of ITR-1 Sahaj can be filed by any common resident or person, whose income is less than 50 lakhs, While ITR-4 Sugam is filed by individual residents HUFs and firms, whose earning income up to 50 lakhs from business and profession.

ITR-3 and ITR-6 are filed by businesses and ITR-2 is filed by people having income from residential propert.

ITR-5 is filed by the association of LLP and the individual, while the ITR-7 for those whose income comes under religious or charitable funds.

The date of filing of these income tax returns has been extended due to coronavirus. People are now more comfortable to file their income tax returns due to extended date and there is no need to pay any kind of additional charges to the income tax departments.

According to the income tax return data, around 3.75 crores of people have filed their income tax returns till December 21.

People are now more aware of filing income tax returns. The Income Tax Department tweeted, “Have you entered your name yet? If not, file now!”.

Related: How Property Taxes Are Calculated?

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I'm Shruti Mishra, Editorial Director @Newsblare Media, growing up in the bustling city of New Delhi, I was always fascinated by the power of words. This love for words and storytelling led me to pursue a career in journalism. In this position, I oversee the editorial team and plan out content strategies for our digital news platform. I am constantly seeking new ways to engage readers with thought-provoking and impactful stories.

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