Each individual in this nation should document income tax returns (ITR) after each monetary year. The last date for documenting ITR for Financial Year 2022–23 (FY 2023–24) is July 31, 2023, for those individuals who don't need a tax audit. It can lead to no refund if a wrong entry or mistake in mentioning the bank account number is made.
Nonetheless, fortunately, the tax department gives a choice to alter/change the bank and individual subtleties after filing the tax returns, which implies these mistakes can be amended. Basically, after selecting an option to refund or re-issue, a citizen needs to present the correct bank account.
Here are the steps to correct this error:
- To begin, visit www.incometax.gov.in. There, go to the 'My Account' tab. Next, select "Service Request."
- From that point forward, go to the 'Request Type'. There, select 'New Request' and select 'Rectification' under 'Request Category'.
- Enter the assessment year for 'Return Data'. Then, at that point, choose 'Intimation u/s 143(1) for Return Data’ under ‘Order/Intimation' to be amended'.
- Select the option of 'Taxpayer is correcting data' under 'Rectification Request Type’', and afterward select 'Bank Account Details' to address the error.
- Update your bank account details and click on 'Submit'.
The time to file income tax returns has arrived. ITR-1, ITR-2, and ITR-4, among others, have been made available online by the Department of income tax with pre-filled data. In a similar vein, some salaried employees will soon receive their Form 16, the additional essential document required to file returns. However, July 31 is the due date to document personal government forms for the assessment year 2023–24 (relating to FY23), so the perfect opportunity to begin the process is when you get your Form 16.