If your bank account is not pre-validated on the portal, you will not get the outstanding income tax refund.
If your income tax refund is due, you need to ensure that the bank account in which your refund amount is due is pre-validated on the income tax e-filing portal. If your bank account is not pre-validated on the portal, you will not get the outstanding income tax refund.
Income Tax Refund: If your income tax refund is due, you need to ensure that the bank account in which your refund amount is due is pre-validated on the income tax e-filing portal. If your bank account is not pre-validated on the portal, you will not get the outstanding income tax refund. Along with the pre-validation of the bank account, you also need to ensure that your PAN is linked with the bank account to which the amount is to be credited.
The Income Tax Department had announced that from May 1, 2019, it will issue only e-refunds. The tax refund will be credited only to those bank accounts which are linked with PAN and are also pre-validated on the income tax e-filing website.
Note that the government had launched a new income tax portal in June 2021. Due to technical issues on the portal, it may happen that the bank account which you have pre-validated earlier may not be pre-validated on the new tax filing website. Hence, check it and re-validate the bank account if needed.
How to check whether bank account is pre-validated or not?
step 1: After logging into your account on the Income Tax Portal, click on the My Profile option and then select My Bank Account.
Step 2: On the screen, you will see the bank accounts which are pre-validated and which bank account has been selected by you to get income tax refund.
How to pre-validate your bank account?
step 1: Login to your account on the new Income Tax Portal.
Step 2: After login, select My Profile option. For this, you have to click on your name given on the right hand side.
Step 3: On the screen, select My Bank Account. Then select Add Bank Account. After this fill these details – Bank Account Number, Account Type, Account Holder Type, IFSC. Once the IFSC details are added, the bank name and bank branch details will be added automatically. Make sure to cross-check these details. You will also see the mobile number and email address linked to your bank account on the screen.
Step 4: After that, click on Validate option.
Once successfully validated, your bank account will be automatically added to your profile. You can, later on, nominate the account on the e-filing portal to get income tax refund.
Due to issues on the tax portal, it may happen that your bank account is valid but the screen is showing validation in progress. However, to check whether the account is pre-validated or not, click on the three dots on the right side of the box showing the name of the bank.
Then select View Bank Details. Now a pop-up box will appear on your screen, in which the details of when the validation request was submitted and whether the bank account is valid or not. And on what date is it pre-validated?
read this also: Today the new rates of LPG LPG cylinders have come for the month of October, see like this- booking will be done in your city for how much rupees?
read this also: The most expensive petrol is being sold in your city today! Know why and when it will be cheaper