FY 2023-24 The last date for filing income tax returns for the salary class is 31st July. However, till now salary class taxpayers are waiting for Form 16 to be issued by their employer. It is expected that Form 16 will be issued soon. After that you will start filing the return. If you are preparing to file the return then take special care of some things otherwise you may face difficulty in getting refund.
Do you need to pre-validate your bank account?
According to the Income Tax Department, it is necessary to have a pre-validated bank account to receive income tax refund. Apart from this, individual taxpayers can also use a pre-validated bank account to enable EVC (Electronic Verification Code) for e-verification purpose. E-verification can be used for filing income tax returns and other forms, e-proceedings, refund re-issue, password reset and secure login to e-filing account.
What are the prerequisites for pre-validation?
For successful pre-validation, the individual must have a valid PAN registered with e-filing and a current bank account linked with the PAN.
How do you know that pre-validation is successful? What should you do if it fails?
The status of the verification request is sent to the mobile number and email id registered with the taxpayer’s e-filing portal. If the verification is rejected, the details are displayed under Inactive Bank Accounts. Inactive bank accounts can be resubmitted for verification in case of Inactive Bank Pre-Validation: Re-Verify for the bank in the Inactive Bank Accounts section and click on the account with ‘Verification in progress’ status.
How much time does it take to validate the bank account after submitting the details?
The validation process is automated. Once your request is submitted, it is sent to your bank. The verification status is updated in your e-filing account within 10-12 working days.
Steps to update existing bank account for verification:
https://incometax.gov.in/iec/foportal/ go to;
Login and click on the ‘Profile’ section;
Select ‘Bank Account’ and click on ‘Revalidate’
Update bank account details like account number, IFSC code, account type etc.
Click on ‘Validate’.
How to add a new bank account:
https://incometax.gov.in/iec/foportal/ go to
Login and click on the ‘Profile’ section:
Click on ‘My Bank Account’
Add a new bank account;
Click on ‘Validate’.
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