All chordates are not vertebrates because [NCERT Pg. 47]
1) Notochord is present in all vertebrates throughout life
2) Kidneys are present for excretion and osmoregulation
3) Ventral muscular heart is present
4) Notochord is not replaced by a cartilaginous or bony vertebral column in protochordates
4) Notochord is not replaced by a cartilaginous or bony vertebral column in protochordates