On the off chance that you haven’t received last year’s income tax refund amount yet, check if the bank account, which you had chosen to receive the refund, is prevalidated or not. This is on the grounds that from the last Assessment Year (for example AY 2019-20) it has become compulsory to prevalidate bank accounts to get Electronic Service Credit (ECS) of your income tax refund in the account. Along these lines, filing your Income Tax Return (ITR) isn’t sufficient to get the income tax refund credited in your bank account, yet you need to prevalidate the account, in which you need to get the amount.
In the event that you have some tax refund in the current Assessment Year (AY 2020-21), ensure that the bank account you will choose in the ITR, to get the refund amount credited, is prevalidated. On the off chance that you have just filed your arrival of income and chose a bank account – which isn’t prevalidated – to get the refund amount, you may, in any case, visit the incometaxindiaefiling.gov.in portal to prevalidate it.
How to Pre-Validate a Bank Account?
- Sign-in into the incometaxindiaefiling.gov.in portal by entering your PAN, password, and captcha code
- After signing in, select the ‘Prevalidate your Bank Account’ alternative under the profile setting tab.
- On the off chance that no bank account is prevalidated, you need to enter the subtleties of the account – account number, account type, IFSC, and contact details for example mobile number and email ID – in which you need to get your refund amount credited and click on the ‘Prevalidate’ button.
- In the event that your PAN is linked with the bank account in the bank database and if your name according to your PAN Card matches your name in the bank account, it will get prevalidated, provided your mobile No. and email ID, linked with your bank account, additionally coordinates with your e-filing account-registered mobile number and email address.
- On the off chance that at least one bank account(s) is/are as of now prevalidated, a list containing the prevalidated account(s) will open under the ‘Prevalidate your Bank Account’ alternative. In the event that you need to get the income tax refund in some other account, you need to tap on the ‘Add’ button and follow the prevalidation cycle to prevalidate it.
For more information, visit the website of All India ITR