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of <h1>Income-tax Rules Amended: New ITR-V and ITR-Ack Forms Introduced for Streamlined Tax Return Verification from April 2024.</h1> The Income-tax (Fifth Amendment) Rules, 2024, effective from April 1, 2024, introduce changes to the Income-tax Rules, 1962, specifically updating forms ITR-V and ITR-Ack. The new ITR-V form is for verifying income tax returns filed but not electronically verified, while the updated ITR-Ack form acknowledges returns that have been filed and verified. The notification outlines verification methods, submission instructions, and consequences for late verification. It emphasizes electronic transmission and verification, detailing procedures for both timely and late submissions. These amendments aim to streamline the verification process and ensure compliance with the Income-tax Act, 1961.
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