ITR Filing: If you are filing Income Tax Return (ITR) online then this news is for you. Individuals who are-- filing ITR or have filed ITR can get tax refund directly to their bank account.
Person filing ITR just needs to pre-validate the bank account in which they will receive an income tax refund once the return is successfully filed.
Individuals are also required to link their PAN with a bank account as well. If the bank account is not linked with PAN, then you won't be able to get the income tax refund in your bank account.
ALSO READ: Income Tax Return: Step-by-step guide to file ITR online before last date
You have to do this as income tax department will only issue e-refunds.
Here is step by step guide to pre-validate your bank account to get a tax refund directly in your bank account:
Step 1: Individual needs to visit www.incometaxindiaefiling.gov.in and log in to your account. The user ID to enter your account is your PAN number.
Step 2: After logging in, click on 'Profile Settings' and then select 'Prevalidate your bank account' option.
Step 3: If any bank account/s of individuals is already pre-validated, it will be shown on the screen. And if not-- then click on 'Add' so that you can receive the income tax refund in a different bank account
Step 4: After clicking on 'Add', a new page will open. Enter these details: bank account number, account type, IFSC, bank name, bank branch and your mobile number and email ID.
Step 5: Click on 'Pre-validate' after which this message will appear on your screen: "Your request for a pre-validating bank account is submitted. Status of your request will be sent to your registered email id and the mobile number".
ALSO: ITR filing: File Income Tax return before last date and avoid these consequences
ALSO: ITR E-Filing Alert: New rules you must know before filing income tax return online
