Have you received your refund for the tax return that you filed last year? If you have still not received it, that’s probably on account of the very fact that there is now a new requirement you would like to fulfill to receive your tax refund. Unlike the previous years, you will not get the tax refund credited in your bank account unless the account is pre-validated.
Earlier, to receive the amount of tax refund with the default bank account you need to mention a bank account numbers withing the tax return (ITR) Form, and selecting the default account was enough. Now, your bank account must be linked along with your PAN, and therefore the name within the bank account must match with the name given within the PAN Card.
If your mobile number and email ID are linked together with the bank account in the bank’s database and your PAN card as per your name should be the same which is in the bank is used for generation of EVC to verify your return only. If it matches, then the account is pre-validated.
Here are the steps to pre-validate your bank account to urge Electronic Service Credit (ECS) of your tax refund within the account
- Visit the incometaxindiaefiling.gov.in portal and log in by entering your PAN, password, and captcha code.
- After logging in, move to the profile setting tab and click on the ‘Pre-validate your Bank Account’ option. The list of your bank accounts integrated with the e-filing portal will get opened.
- If one bank account is EVC enabled. Then other accounts cant be EVC enabled.
- If you like to receive a tax refund in a different account, click on the ‘Add’ button and enter your bank account details – account number, account type, IFSC, and phone details i.e. mobile number and email ID.
- Just in case the subsequent conditions are fulfilled, click on the ‘Pre-validate’ button after entering all of your bank and phone details. In doing so, you may get an acknowledgment of your transaction.
