ITR Refund Update: CBDT releases Situations where Bank Account need Validation

The Central Board of Direct Taxes (CBDT) has been notified to validate the bank account of the taxpayers. Now, the department also released the situation where you need the bank account validation. The situations are as follows:

1. Bank merged with another bank
2. Change in Bank Branch
3. Change in bank account number
4. Change in name in Bank Account
5. Bank account closed or become inactive
6.  Change in IFSC Code of your bank account

If you have any above mentioned situation, you have to validate your bank account details on the e-filing portal.

To update/revalidate your bank account details:

1. login to: https://eportal.incometax.gov.in
2. Go to Profile and navigate to My bank Accounts
3. Click on three vertical dots > Choose Revalidate> make required changes in data for updating details
4. Click on the Validate button.

For adding a new bank account

1. Login to https://eportal.incometax.gov.in
2. Go to Profile > My bank Accounts
3. Click on Add bank account > Fill the required details
4. Click on the Validate button.

After some time, you can verify the validation status of your bank account. Once the bank account status is confirmed as ‘Validated,’ make sure to nominate it for a refund by activating the ‘Nominate for Refund’ button.

If the bank account validation has failed, you can remove that bank account by clicking on the three vertical dots on ‘My bank accounts’ screen. Also, please ensure that only those bank accounts, which are linked with PAN should be validated and nominated for refund. Refunds cannot be credited to Bank Account not linked with PAN.

Read More: ITR Refund Update: CBDT advises to check Bank Account Validation Status

For more info: Watch the video ‘How to pre-validate your bank account’ –https://youtu.be/2ie86mHNeyc

For any further assistance you may reach the helpdesk contact numbers:

1. 18001030025
2. 180041940025 (Toll free)
3. +91-80-46122000
4. +91-80-61464700

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