All the taxpayers are currently waiting for their income tax refund, which is pending to be credited into their bank accounts. However, at this point, if the amount is still not received in the accounts, a taxpayer must check if the bank account is verified on the e-filing portal or not. As per the Income Tax Department, only the verified bank accounts are eligible to receive ITR refunds.
ITR Refund 2023
The last date to file ITR for the financial year 2022-23 was July 31, 2023, and a record-breaking 6.77 Cr ITR was filed. However, taxpayers are still waiting for their Income Tax Refunds.
Now, the IT Department, with a tweet, has clarified that only verified bank accounts will be credited with ITR refunds.
To receive an income tax refund, you need to pre-validate your bank account. This pre-validated account can also be used for electronic verification (EVC), which is handy for tasks like filing taxes, submitting forms, participating in e-proceedings, requesting refunds, resetting passwords, and securely logging into your e-filing account.
The IT department wrote on Twitter, “Previously validated bank accounts may require update and re-validation due to change in bank account details.”
A Step-by-Step Guide to Checking Your Bank Account Validation Status on the e-Filing Portal:
Step 1: Begin by visiting the official website at and log in using your credentials.
Step 2: Once logged in, access the Profile section.
Step 3: Locate and click on ‘My Bank Account.’
Step 4: Here, you can either revalidate your existing bank account or add a new one if needed.
Step 5: Keep an eye out for the validation request status, which will be sent to the mobile number and email address linked to your e-filing portal account.
Also read:ITR Refund Latest Update: CBDT Advises Taxpayers Refund Will Not Be Credited To Such Bank Accounts, Check Now
In Case of a Failed Bank Account
If the validation fails, you’ll see the information in the “Failed Bank Accounts” section. To retry validation for a failed bank account, simply click “Re-Validate” in that section. The status will then change to “Validation in progress,” reported by ET.