Do not miss this step, keep away from rejection of your tax refund

When a taxpayer pays extra tax than she is responsible for in a monetary yr via extra tax deducted at supply (TDS) or miscalculation in revenue tax, the revenue tax division refunds the surplus quantity. The refund is processed after the taxpayer information and verifies her revenue tax return (ITR).

The refund is credited into the assessee’s checking account supplied on the time of submitting ITR.

Take notice that the revenue tax (IT) division processes the refund solely in a checking account that’s linked to PAN. The checking account the place you need the refund and your PAN should be pre-validated within the new revenue tax e-filing portal. If not executed, your refund, if any, won’t get via.

How to pre-validate checking account

You can pre-validate your checking account below ‘My Profile’ tab in your account on the IT portal.

When keying in particulars, make sure that the PAN and cell quantity that you just give within the IT portal are identical as these together with your financial institution. If that isn’t the case, it’s endorsed that you just replace the small print together with your financial institution first. Discrepancy in particulars can delay your refund.

Status of validation is displayed in your account over the following few days after placing the request. If the validation request is rejected, it’s displayed below ‘My Profile’ tab and you may make the request once more.

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