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Haven't received your tax refund yet? Validate your bank account first

This year onwards, tax department is only issuing e-refunds directly into the bank

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Tinesh Bhasin Mumbai
If you have not received your tax refund, there’s a high probability that you don’t have a pre-validated bank account. From this year onwards, the tax department has made it mandatory for individuals to link the bank account with their Permanent Account Number and also validate it, according to tax experts.

From this assessment year onwards, the income-tax department has said that it will issue e-refunds directly to the bank accounts of the assessees. “There could be other reasons for a taxpayer not receiving the refund. Failing to do pre-validation is the most common,” says Naveen Wadhwa, a chartered accountant

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First Published: Sep 26 2019 | 11:54 PM IST

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