Total 4.86 Crore ITRs have been filed so far, nearly 19 lakh filed on December 28

The IT department announced on Wednesday that over 4.86 crore Income Tax Returns for the 2020-21 fiscal year have been filed so far, with over 18.89 lakh ITRs filed on December 28 alone. Individual taxpayers’ deadline to file income tax returns has already been extended by five months, to December 31, 2021.

“A total of 4,86,34,306 #ITRs have been filed up to 28.12.2021,” the department tweeted, citing the number of ITRs filed for Assessment Year 2021-22. (2020-21 fiscal year).

Over 2.57 million ITR-1, 1.23 million ITR-4, 43 lakh ITR-2, and 53 lakh ITR-3 have been filed as of December 28.

Simpler ITR Forms 1 (Sahaj) and 4 (Sugam) are available for a substantial number of small and medium taxpayers. An individual with an annual income of up to Rs 50 lakh who earns income from a salary, one residential property, or other sources can submit a sahaj (interest etc).

Individuals, HUFs, and corporations with a total income of up to Rs 50 lakh and income from business and profession can file ITR-4.

People with income from residential property file Form ITR-2, whereas those with revenue from a company or profession file Form ITR-3.

5.95 crore ITRs were filed for the 2019-20 fiscal year until the extended deadline of January 10, 2021.