The income tax refund process will be issued through online only from March 2019.
The amount will be credited to the bank account linked with the Permanent Account Number (PAN).
Further, the taxpayers have to pre-validate your bank account with the income tax department e-filing portal to receive a tax refund.
It is confirmed that the tax refunds to the taxpayers will be automatically credited to the bank accounts (savings/current/cash/OD) which are linked to PAN w.e.f. March 1, 2019.
If your PAN is not yet linked with your bank account, you must provide the details of the same to your bank branch to get an income tax refund.
- If the taxpayers’ bank is integrated with the e-filing portal, pre-validation can be done directly through EVC (Electronic Verification Code) and net-banking route.
- In cases where the bank account is not integrated with the e-filing portal, then the income tax department will validate the bank account itself from the details filled up by you,
The department has asked the taxpayers to link their PAN with bank accounts in order to get the income tax refund directly, swiftly and securely in their bank account.
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