Over 48.6 mn ITRs filed for FY21 so far, nearly 1.9 mn filed on Dec 28

Over 4.86 crore Income Tax Returns for 2020-21 fiscal have been filed so far including over 18.89 lakh ITRs filed on December 28 alone, the I-T department said on Wednesday.

The department has already extended the deadline for individual taxpayers to file income tax returns by five months till December 31, 2021.

"A total of 4,86,34,306 #ITRs have been filed upto 28.12.2021 including 18,89,057 #ITRs having been filed on the day itself," the department tweeted giving details of ITRs filed for Assessment Year 2021-22 (2020-21 fiscal year).

This includes over 2.57 crore ITR-1, over 1.23 crore ITR-4, over 43 lakh ITR-2 and over 53 lakh ITR-3 being filed till December 28.

ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler Forms that cater to a large number of small and medium taxpayers. Sahaj can be filed by an individual having income up to Rs 50 lakh and who receives income from salary, one house property/other sources (interest etc).

ITR-4 can be filed by individuals, HUFs and firms with total income up to Rs 50 lakh and having income from business and profession.

ITR-2 is filed by people having income from residential property, ITR-3 is filed by people having income as profits from business/profession.

For 2019-20 fiscal, 5.95 crore ITRs were filed till the extended deadline of January 10, 2021.