Over 45 million income tax returns for FY21 filed till December 26

Over 4.51 crore income tax returns for 2020-21 were filed till December 26, the I-T department said on Monday.

This includes over 2.44 crore ITR-1 and over 1.12 crore ITR-4. 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 of 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, Hindu Undivided Families (HUFs) and firms with total income of up to Rs 50 lakh and having income from business and profession.

The extended deadline for filing ITRs by individual taxpayers is December 31, 2021. The original deadline was July 31, 2021.

"A total of 4,51,95,418 #ITRs have been filed upto 26.12.2021 including 8,77,721 #ITRs having been filed on the day itself," the I-T department tweeted.

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