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.
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".