328339 SIP myths you must know!
There has been a 9% growth in online ITR filing for FY21 with 7.38 crore users compared to 6.77 crore users in FY20. However, in the Assessment Year 2020-21, only 1,93,11,111 people filed ITR 1 online as compared to 1,97,78,729 people in Assessment Year 2019-20. This means that individuals having income below Rs 50 lakh […]
According to the finance act 2021, section 72A of the Income-tax Act, 1961 was amended to deal with the amalgamation of a public sector company (PSU) which ceases to be a PSU (erstwhile public sector company), as part of strategic disinvestment, with one or more company or companies and carry forward of losses in case of change in shareholding following sale by the government.
There has been a 9% growth in online ITR filing for FY21 with 7.38 crore users compared to 6.77 crore users in FY20.
However, in the Assessment Year 2020-21, only 1,93,11,111 people filed ITR 1 online as compared to 1,97,78,729 people in Assessment Year 2019-20. This means that individuals having income below Rs 50 lakh declined in AY2020-21. Significant growth of 14% was witnessed in ITR4 forms.
In terms of states, Maharashtra recorded the highest number of people filing e-ITR with 1,14,79,068 returns, followed by Uttar Pradesh (71,47,969 returns) and (48,29,094 returns).
Percentage of returns filed using Utility provided by Department was up to 36%, while returns filed outside office hours are around 54%.
Published: May 4, 2021, 18:35 IST