![]() On this issue, my opinion is that it’s a completely baseless rumour, because now you can submit the copy of Income Tax Return Acknowledgement instead of ITR-V, which contains the same details which earlier ITR-V used to contain,” said CA Geetanshu Bhalla, Founder, The Virtual Compliance. “Some taxpayers has raised the issue that they now have to share the complete income tax returns to the third parties where earlier ITR-V met the purpose. ![]() ![]() So, instead of ITR-V, the Income Tax Return Acknowledgement – which is generated after the ITR-V is verified – may only be used henceforth as a proof of filing the return of income. New Format of ITR-V: Know how advantageous, disadvantageous it’s for you income, deductions, taxes etc – have been removed from it except the assessee’s name, PAN, acknowledgement number and the section under which the return in filed. To stop the process of using unverified ITR-V as a proof of filing return of income, “This is not a proof for having filed the Return” was printed at the end of the document last year and to eliminate the chance of using it as ITR proof, all the figures – viz. Income Tax: Tips for NRIs buying property in IndiaĮven after introduction of Income Tax Return Acknowledgement as a proof of verified return of income, the process of submitting ITR-V as ITR proof was continued as the format of both the documents were almost identical.
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5/3/2023 01:16:24 am
It’s that time of the year – the days are getting shorter, the pavements are covered in leaves, and supermarkets are already selling mince pies (it really does seem to get earlier every year). And as businesses, we’re creeping towards Black Friday, Cyber Monday and the Christmas sales season.
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