New Delhi: More than 4.86 Corrore income tax returns for Fiscal 2020-21 have been submitted so far including more than 18.89 lakh ITRS submitted on December 28, the I-T department said on Wednesday.
The department has extended the time limit for individual taxpayers to submit a return on income tax of five months to December 31, 2021.
“4,86,34,306 #Itrs has been submitted up to 28.12.2021 including 18,89,057 #Itrs has been submitted on the day itself, “The Tweeting Department provides the ITRS details submitted for assessment of 2021-22 (Fiscal year 2020-21).
These include more than 2.57 Crore ITR-1, more than 1.23 Crore ITR-4, more than 43 lakh ITR-2 and more than 53 ITR-3 lakh submitted until December 28.
ITR 1 form (Sahaj) and ITR 4 Form (SUGAM) are simpler forms that meet a large amount of small and medium taxpayers.
Sahhaj can be submitted by individuals who have income up to RS 50 Lakh and who receive income from salary, one home property / other source (flower etc.).
ITR-4 can be submitted by individuals, HUFS and companies with total income of up to 50 lakh RS and have income from business and professions.
ITR-2 submitted by people who have income from residential properties, ITR-3 submitted by people who have profits from business / profession.
For 2019-20 fiscal, 5.95 ITRS crore was filed until the extended deadline for January 10, 2021.