Step 1: Recall the properties
Dihydrogen is colourless, odourless and tasteless. It is the lightest gas, burns with a pale blue flame, and is a nonpolar molecule with very low solubility in water.
Step 2: Check the options
(A) is correct. (B) is correct. (D) is correct because it is lighter than air. (C) says it is a polar water-soluble gas, which is wrong, since \(H_2\) is nonpolar and hardly dissolves.
Final Answer:
Option C is the incorrect statement.
\[ \boxed{\text{(C)}\ \text{It is a polar water-soluble gas}} \]