A processor implemented method for identifying relevant changes for incremental verification of an evolving software, the method comprising: receiving, via a user interface, a first program and a second program of the evolving software, wherein the second program is a newer version of the evolving software as compared to the first program, wherein the first program and the second program comprises a plurality of property checking statements corresponding to a plurality of properties; identifying, via one or more hardware processors, a first set of variables used in the plurality of property checking statements from the second program, wherein the first set of variables are configured to check the plurality of properties; computing, via the one or more hardware processors, a set of value influencing variables (VIVs) at each program statement that are influencing values of the first set of variables in the second program, wherein the set of VIVs are computed from: (i) a set of assignment statements that assign or define values of a value influencing strongly live variable in the second program, and (ii) a set of conditional statements that are reaching via a control flow to the plurality of property checking statement in the second program; identifying, via the one or more hardware processors, one or more changed statements in the second program by comparing the first program and the second program using a text differencing tool; and identifying, via the one or more hardware processors, relevant changes using the computed set of VIVs and the identified one or more changed statements, wherein relevant changes are identified based on: change in assignment statement, wherein if modified variables collected from a changed assignment statement are present in the set of VIVs at the changed assignment statement, then the changed assignment statement is marked as relevant, and change in conditional statement, wherein if variables used in a changed condition are present in the set of VIVs at the changed conditional statement, then the changed conditional statement is marked as relevant. receiving, via a user interface, a first program and a second program of the evolving software, wherein the second program is a newer version of the evolving software as compared to the first program, wherein the first program and the second program comprises a plurality of property checking statements corresponding to a plurality of properties; identifying, via one or more hardware processors, a first set of variables used in the plurality of property checking statements from the second program, wherein the first set of variables are configured to check the plurality of properties; computing, via the one or more hardware processors, a set of value influencing variables (VIVs) at each program statement that are influencing values of the first set of variables in the second program, wherein the set of VIVs are computed from: (i) a set of assignment statements that assign or define values of a value influencing strongly live variable in the second program, and (ii) a set of conditional statements that are reaching via a control flow to the plurality of property checking statement in the second program; (i) a set of assignment statements that assign or define values of a value influencing strongly live variable in the second program, and (ii) a set of conditional statements that are reaching via a control flow to the plurality of property checking statement in the second program; identifying, via the one or more hardware processors, one or more changed statements in the second program by comparing the first program and the second program using a text differencing tool; and identifying, via the one or more hardware processors, relevant changes using the computed set of VIVs and the identified one or more changed statements, wherein relevant changes are identified based on: change in assignment statement, wherein if modified variables collected from a changed assignment statement are present in the set of VIVs at the changed assignment statement, then the changed assignment statement is marked as relevant, and change in conditional statement, wherein if variables used in a changed condition are present in the set of VIVs at the changed conditional statement, then the changed conditional statement is marked as relevant. change in assignment statement, wherein if modified variables collected from a changed assignment statement are present in the set of VIVs at the changed assignment statement, then the changed assignment statement is marked as relevant, and change in conditional statement, wherein if variables used in a changed condition are present in the set of VIVs at the changed conditional statement, then the changed conditional statement is marked as relevant.