There exist various ITR forms that are classified based on an individual’s standard of income, amount of income, and the category under which the taxpayer falls. The returns have to be filed before a specific due date. This form is submitted to the income tax department. ‘Assess’ is the name given to any individual, who is legally responsible for paying taxes to the government against any kind of income earned or any losses suffered by him. The Income Tax Return (more commonly known as ITR) form is a tax form that is filed by an assessee to register information about the income earned and the tax applicable to the person. Download Your Itr V From The Income Tax Department Website ITR Form This form is known as the Income Tax Return (ITR) form. The Income Tax Act of 1961 and the Income Tax Rules of 1962 ask every individual who earns some amount of money to file their returns with the Income Tax Department at the end of every financial year. This is in accordance with the relief measures proposed by the Government in light of the disruption caused by COVID-19.
There will now be an additional two months for taxpayers to file their ITRs. It was announced in June that the deadline would be extended until the 30th of November.
In the current fiscal year, this is the fourth time that a similar extension has been announced.
According to the government's announcement on 24th October 2020, the deadline for filing ITRs (Income Tax Returns) has been extended until 31st December.
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