Validated bank account for tax refund: How to ensure process is completed

Refunds are often delayed due to invalid or outdated bank information; this guide tells how to validate your bank account

People want their Income Tax returns (ITR) to be processed smoothly and refunds credited on time. One critical step to ensure that is validating your bank account on the Income Tax e-filing portal. If your bank details are incorrect or outdated, your refund may be delayed or even fail. Here's a quick guide to help you update and revalidate your bank account.

For refunds to be credited, your bank account must be:

• Pre-validated on the e-filing portal 
• Linked to your PAN 
• Active and operational

If your bank account fails a validation check or you’ve closed it, you must update the correct details immediately.

Steps to revalidate or update your bank account on Income Tax portal

 

You can update or revalidate your bank details in a few simple steps:

 

• Login to the Income Tax e-filing portal. 
• Go to ‘My Profile’ and click on ‘My Bank Account’. 
• Look for the bank account that is showing as ‘Invalid’. 
• Click on ‘Re-Validate’ next to that account. 
• Enter the correct bank account number and IFSC code. 
• Submit the revalidation request.

 

If the account is no longer in use, it is advisable to remove it and add a new account.

 

When to contact your bank

In some cases, your account may be invalidated due to mismatched or outdated information. In such scenarios:

 

• Visit or contact your bank branch to update your PAN details. 
• Ensure the name, PAN, and bank records match exactly. 
• Once your bank updates its records, return to the portal and submit a revalidation request.

 

Points to know

• Only one bank account can be selected as the refund account. 
• Use an account that is active and in your name. 
• Always double-check the IFSC code and account number before submitting.