When filing their income tax return (ITR) to claim a refund, taxpayers must include their bank account number. It is crucial to provide the correct bank account details because any errors or inaccuracies can lead to the forfeiture of the refund. Fortunately, the tax department offers taxpayers the flexibility to modify and update their personal and banking information even after submitting the tax return. This provision allows individuals to rectify any mistakes made during the initial filing process.
Changing Bank Account Details After Filing ITR
To request a refund re-issue, taxpayers are required to provide their accurate bank account number. It is important to select the appropriate refund re-issue option and ensure the correctness of the bank account details to facilitate a smooth process.
Steps to Apply for Refund Reissue for Changing Bank Account Details:
- Log in to the income tax website using your login credentials.
- Navigate to the ‘Services’ section and select ‘Refund Re-issue’.
- Choose ‘Create Refund Re-issue Request’.
- Select the specific record for which you want to request a refund re-issue.
- The system will display all pre-validated bank accounts with a validated or validated and EVC enabled status. Choose the bank account where you wish to receive the refund. If you don’t have any pre-validated bank accounts, you will be directed to the pre-validation screen for bank accounts.
- On the pre-validation screen, enter all the relevant details of the bank account where you intend to receive the refund. Click on the ‘Pre-validate’ button to proceed with submitting the request.
- Once the concerned bank pre-validates the account, it will automatically be considered for refund re-issue. You will be able to view this account under the pre-validated bank accounts in the e-filing portal.
Additionally, taxpayers can check the status of their tax refund online through the income tax e-filing website. Simply navigate to the ‘Status of Tax Refunds’ tab where a message will provide details such as the mode of payment, reference number, status, and date of refund.
Taxpayers can also verify the refund status on the e-governance website of the National Securities Depository Limited (NSDL).
The Income Tax (I-T) Department has granted taxpayers the opportunity to claim any excess tax payment for the financial year 2022-23 by filing an income tax return before July 31, 2023, without incurring any penalties.