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The Central Board of Direct Taxes amends the Income-tax Rules 1962 to substitute Form ITR-V and Form ITR-Ack for the assessment year 2024-25. Taxpayers must submit Form ITR-V within 30 days of data transmission if they do not verify the return electronically. The submission of Form ITR-V beyond 30 days results in late filing consequences under the Income-tax Act.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 27th March, 2024
G.S.R. 233(E).—In exercise of the powers conferred by section 139 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
(a) for FORM ITR-V, the following FORM shall be substituted, namely: —
"FORM ITR-V INDIAN INCOME TAX RETURN VERIFICATION FORM
[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] (Please see rule 12 of the Income-tax Rules, 1962)
Assessment Year 2024-25
Name
PAN
Form Number
Filed u/s
e-Filing Acknowledgement Number
VERIFICATION I,
son/ daughter of , solemnly declare that to the best of my knowledge and belief, the information given in the return which has been submitted by me vide acknowledgement number is correct and complete and is in accordance with the provisions of the Income-tax Act, 1961.
I further declare that I am making this return in my capacity as and I am also competent to make this return and verify it. I am holding permanent account number .
Signature
Date of submission
Source IP address
System Generated Barcode/QR Code
Instructions:
(b) for FORM ITR- Ack, the following FORM shall, be substituted, namely: —
“INDIAN INCOME TAX RETURN ACKNOWLEDGEMENT [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] (Please see rule 12 of the Income-tax Rules, 1962)
Assessment Year 2024-25 PAN
Name
Address
Status
Form Number
Filed u/s
e-Filing Acknowledgement Number
Taxable Income and Tax details Current Year business loss, if any 1
Total Income
Book Profit under MAT, where applicable 2
Adjusted Total Income under AMT, where applicable 3
Net tax payable 4
Interest and Fee Payable 5
Total tax, interest and Fee payable 6
Taxes Paid 7
(+)Tax Payable /(-)Refundable (6-7) 8
Accreted Income & Tax Detail Accreted Income as per section 115TD 9
Additional Tax payable u/s 115TD 10
Interest payable u/s 115TE 11
Additional Tax and interest payable 12
Tax and interest paid 13
(+)Tax Payable /(-)Refundable (12-13) 14
Income Tax Return electronically transmitted on DD-MM-YYYY 00:00:00 from IP address __________________ and verified by__________________________ having PAN_________________ on ______________________using *paper ITR-Verification Form /Electronic Verification Code _____________________ generated through _______________________________________________mode System Generated Barcode/QR Code *Strike off whichever is not applicable DO NOT SEND THIS ACKNOWLEDGEMENT TO CPC, BENGALURU”.
[Notification No. 37/2024 F.No.370142/7/2024-TPL] SURBENDU THAKUR, Under Secy. Tax Policy and Legislation
Note : The Income-tax Rules, 1962 were published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (i) vide notification number S.O. 969 (E), dated the 26th March, 1962 and last amended vide notification GSR 155(E), dated the 05th March 2024.
