Comments Off on E-filing of ITRs increased by 9% in FY20, with 7.38 crore returns submitted by March 31.
According to the most recent tax numbers, there are over 10 crore registered users, with 7.38 crore filing tax returns online in FY21. E-filing of Income Tax Returns (ITRs) increased by 9% in FY21 compared to FY20, with 7.38 crore returns filed through March 31, compared to 6.77 crores in FY20 and 6.68 crores in FY19.
About five crore people with an annual income of less than or equivalent to $5 lakh filed their tax returns. Around 81,653 individuals with an annual income of more than Rs 1 crore, as well as 44,752 businesses, 836 trusts, 16,420 firms, and 62 local governments, filed returns.
Maharashtra topped the list, with 1.14 crore ITRs filed via the tax department’s e-filing scheme. Gujarat had 74.50 lakh e-returns, Uttar Pradesh had 71.47 lakh, Rajasthan had 48.29 lakh, Tamil Nadu had 46.15 lakh, Karnataka had 43.15 lakh, and Delhi had 38.20 lakh e-returns.
According to tax statistics, there was a 1.72 per cent increase in filing growth in AY 20-21, with 6.83 crores ITRs filed compared to 6.72 crores in AY 19-20.
Comments Off on Business & Profession Return filing – Fin Yr 2019-20 (ITR 4 Utility) Launch
ITR -4 Excel and Java Utility for Assessment year 2020-2021 (FY 2019-2020) is available in e-filing portal for filing.
Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income up to Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE are eligible to file ITR -4
Individual who is either Director in a company or has invested in Unlisted Equity Shares are not eligible to file ITR 4.
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