Over 5 crore income tax returns (ITRs) for fiscal year 2019-20 have been filed till January 4, the Income Tax Department said on Tuesday. The government has extended the ITR filing deadline for individuals till January 10, and for companies till February 15.
"Over 5.01 crore Income Tax Returns for AY 2020-21 have already been filed till 04th 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.
An analysis of the data showed that filing of tax returns by individuals for 2019-20 has slowed in the current year, while filing by businesses and trusts have increased.
Over 2.7 crore ITR-1 have been filed till January 4, lower than 3.09 crore filed till September 4, 2019.
With regard to ITR-4, it said, 1.04 crore returns have been filed till January 4 as compared to 1.28 crore filed till September 4, 2019.
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 (filed by people having income from residential property) were filed till January 4, 2021. ITR-5 (filed by LLP and Association of Persons) filings stood at 8.30 lakh, while ITR-6 (by businesses) filings were at 4.03 lakh.
ITR-7 (filed by persons having income derived from property held under trust) filings stood at 1.21 lakh till January 4, 2021.