Changes in ITR-V

Every time a person files an Income Tax Return, an acknowledgement is generated. This acknowledgement is known as ITR-V. This means Income Tax Return Verification Form. Once the return is filed, it has to be verified either through Adhaar Based OTP or through net banking.

It is also verified if the return is filed using a digital signature. If the return is not verified through any of the above means, it can be signed and sent via post to CPC Bengaluru.

Before AY 2020-21, ITR-V would be generated with a watermark stating ‘Not Verified’ if the return submitted by any person was not verified or digitally signed. If ITR-V was generated after verifying the return, the ITR-V would not contain this watermark. By this watermark, person filing the income tax return would be aware that the income tax return needs to be verified in order for the return to get processed by income tax department.

CBDT, has changed ITR-V from AY 2020-21 onwards. Now the format of the ITR-V before verifying the income tax return is completely different from the format of ITR-V which would be downloaded after verifying the income tax return filed with the department.

If a person downloads the ITR-V after verifying the income tax return, all the details displayed would include details of person whose income tax return is being filed such as name, address, status,  details of ITR such as Form type, section under which the return of income is being filed and e-filing acknowledgement number. IT would also include all the details of income reported and taxes paid by the person for the assessment year. This ITR-V will specifically state that it need not be sent to CPC, Bengaluru.

If an ITR-V is downloaded before verifying the income tax return, it would display only the basic details such as Name and PAN of the person whose income tax return is filed, section under which it is filed and the e-filing acknowledgement number. It would not display details of income reported and taxes paid by the person. This ITR-V would display a set of instructions to verify the return filed. It will specifically state that once the return filed by the assessee has been verified successfully, assessee would be able to download an ITR-V from the portal as a proof of completion of process of filing the income tax return.

After checking upon the difference between the ITR-V before and after verification of the income tax return, it is clear that the ITR-V downloaded after verifying the income tax return filed would be accounted as an acknowledgement of the Income tax return filed by the assessee.

For ease of comparison, attached are the formats of ITR-V before and after verifying the return of income.

Before Verifying

After Verifying

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