ITR-V Acknowledgement to be necessarily in RED color print?

Seth (M) (148 Points)

22 June 2011  

 

To file ITR-4 returns, do we need to necessarily get a RED Colored Acknowledgement ITR-V??

If I heard it correct on CNBC, Tax Guru Mr. Lakhotia mentioned that government has released RED colored ITR-V ACKNOWLEDGEMENT form and it is to be printed only in Red color otherwise it may not be accepted by the person stamping the paper returns. 

 

Any thoughts on that please?

 

Thanks,