More than 4.54 crore income tax returns have been filed for the fiscal year 2019-2018 (assessment year 2020-21) on December 29, 2011. The Income Tax Department gave this information on Wednesday.
More than 4.54 crore income tax returns have been filed for the fiscal year 2019-2018 (assessment year 2020-21) on December 29, 2011. The Income Tax Department gave this information on Wednesday. 4.7777 crore income tax returns were filed for the comparative period in the last financial year. 5. Late5 crore income tax return without delay fee 201 year-1. It was filed till the last date of the financial year (assessment year 2019-20).
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Last year, the date for filing income tax returns was extended to August 31, 2019. The Income Tax Department tweeted, “More than 4.44 crore income tax returns have been filed for assessment till December 29, 2020-2111.” Out of the income tax returns filed, 2.22 crore taxpayers have submitted ITR-1.
As of August 29, 2019, this number was 2.77 crore. One crore ITR-4s were filed by December 29. At the same time, as on August 29, 2019, 99.50 lakh ITR-4s were filed. Analyzing the data, it is seen that the number of personal income tax returns filed for the financial year 2012-2017 has decreased, while the number of income tax returns filed by companies and trustees has increased. The simple ITR-1 form can be filled by an ordinary resident whose annual income is not more than Rs 50 lakh, with his personal income information.
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On the other hand, the ITR-4 Sugam form can be filled by a resident, Hindu Undivided Family and Firm (excluding LLP) whose business and any profession has an estimated income of up to Rs 50 lakh. At the same time, for ITR-3 and 6 traders, ITR-2 is filled by individuals who receive income from residential property. The ITR-5 form for LLP and the Association of Persons, ITR-7 is for those who receive income from property held in trust or other legal obligation.
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