Verification of returns: clarified authorised signatories and integration of insolvency professionals, with some procedural ambiguities remaining.
Clause 265 modernises verification of returns by enumerating, in tabular form, the persons authorised to verify returns for specified taxpayer categories, preserving traditional authorities (individual, Karta, managing/designated partner, principal officer, CEO) while incorporating insolvency professionals for entities under insolvency. The Bill omits an explicit "absence from India" reference for individuals and does not expressly require attachment of powers of attorney for non-resident companies, raising potential evidentiary and interpretive issues. The provision allows designation of "other persons as prescribed," aligning the statute with Rule 12AA but requiring careful subordinate rule-making.