Verification
ITR-V is the one-page verification document, that is mailed to you by the Income Tax Department once you have filed the IT-Returns. Once you submit this document to Income Tax Department, they will start the processing of your return.
Acknowledgement
ITR-V is nothing, but an acknowledgment received by the taxpayer from the Income Tax Department. The taxpayer must send this acknowledgment to CPC Bangalore within 120 days of receiving it.
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