Higher Than Previous ITRs Furnishing in FY 2019-20 till 10th Jan

The income tax returns furnished this year have raised to 5% which is nearer to 6 cr as more businesses along with the entities furnished yearly income statements.

Covering of 5.95 crore income tax returns (ITRs) for the financial year closed March 31, 2020 (2019-20) was furnished through January 10, declared by the Income Tax Department.

ITR furnishing deadline Get all due dates of income tax return and payment of advance taxes for FY 2018-19 (AY 2019-20). We update the last date as per the IT department notifications for the person ends on Jan 10 whereas for the companies it was 15 Feb. The tax council comments that 5.95 cr ITRs for the assessment year 2020-21 is furnished till 10 Jan 2021 with respect to 5.67 crores ITRs furnished for the before financial Year through September 10, 2019.

The total returns for 2019-20 are 33.35 lakh more than the preceding year as the total Income tax return furnished at 5.61 crores which were August 31, 2019. “We gratefully acknowledge the efforts of our taxpayers & tax professionals,” it states that sharing the information of Income-tax return furnished for FY 2020-21 till 10/01/2021.

The analysis of the information mentioned that furnishing of tax returns through the person for 2019-20 has reduced in the present year, while furnishing through the businesses and trusts gets raised. Above 2.99 crores income tax return 1 form were registered till 10 January this year, less than the 3.11 crore furnished up to September 10, 2019.

Resident people whose incomes are lower than Rs 50 lakh in a year furnishes ITR-1 form. Above 1.49 crore ITR-4 were furnished up to January 10, with respect to 1.29 crore furnished till September 10, 2019. Last year, 49,398 were ITR-6 filings till 10/092019, and the ITR-5 filings stood at 5.89 lakh.

ITR-7 furnished Check out the step by step process to file ITR 7 form online for AY 2020-21. Also, we published income tax return form 7 due date and eligibility through the people whose income comes from property comes below trust filings lasted at 1.46 lakh till 10/01/2021 with respect to 65,298 which was in previous years.

“CBDT passes order u/s 119 of Income-tax Act, 1961 in F No. 370153/39/2020-TPL at 11th January 2021, disposing of the representations for extension of due date for filing of Audit Report u/s 44AB, in compliance with the order of hon’ble Gujarat High Court at 8th January 2021,”

On Jan 8 Gujarat high court has received a notice for the concern of the All India Gujarat Federation of Tax Consultants with respect to the union of India saying to the finance ministry to see the problem of extension of due dates for furnishing of audit reports below section 44AB of income tax law. According to the act, the last date for furnishing the audit report below section 44AB is one month before the last date of furnishing of ITR i.e 15/01/2021.