Changes in ITR form V and Acknowledgement for A.Y 2024 25 as per Finance Act 2023
CBDT has amended ITR form V and Acknowledgement for A.Y 2024 25 as per the amendments in the provisions of the Income tax Act, 1961 and In the Income tax Rules, 1962 in consequence of the Finance Act, 2023.
ITR-V (INDIAN INCOME TAX RETURN VERIFICATION FORM) is used for where the data of the Return of Income in Form ITR-1 (SAHAJ), ITR-2, ITR-3, ITR-4(SUGAM), ITR-5, ITR-7 filed but NOT verified electronically.
Instructions:
1. Please e- verify the electronically transmitted return data using Aadhaar OTP or Login to e-Filing account through Net-Banking login or EVC generated using Pre-Validated Bank Account/ Demat Account or EVC generated through Bank ATM. Alternately, you may send the duly signed (preferably in blue ink) Form ITRV to “Centralised Processing Centre, Income Tax Department, Bengaluru 560500”, by SPEED POST ONLY.
2. Form ITR-V shall not be received in any other office of the Income-tax Department or in any other manner. The confirmation of receipt of this Form ITR-V at ITD-CPC will be sent to the e-mail Id registered in the e-filing account.
3. On successful verification, the return filing acknowledgement can be downloaded from e-Filing portal as a proof of completion of process of filing the return of Income.
4. Please sign only in the box provided for signature. Signature anywhere else other than the box provided can render the ITR V invalid.
5. Where ITR data is electronically transmitted and ITR-V is submitted within 30 days of transmission of data- in such cases the date of transmitting the data electronically shall be considered as the date of furnishing the return of income.
6. Where ITR data is electronically transmitted but ITR-V is submitted beyond the time-limit of 30 days of
transmission of data- in such cases the date of ITR-V submission shall be treated as the date of furnishing the return of income and all consequences of late filing of return under the Act shall follow.
FORM ITR- Ack (INDIAN INCOME TAX RETURN ACKNOWLEDGEMENT) is used Where the data of the Return of Income in Form ITR-1 (SAHAJ), ITR-2, ITR-3, ITR-4(SUGAM), ITR-5, ITR-6, ITR-7 filed and verified]
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