Income Tax Return: Complete this work immediately, refund will come directly into the account after filing the return..
The time has come to file income tax returns. Most employed people get Form 16 from their employer after June 15, after which you can easily start the process of filing your income tax return. Although the deadline for filing ITR is July 31, if you complete this work without waiting for the last moment, then you will benefit.
The sooner you file ITR, the sooner you will get the refund. But here you have to understand one more thing. If you want the amount of your income tax refund deposited directly in your bank account without any problem, then for this you have to complete some important tasks from now.
What are those important tasks, we are going to tell you later. But first, let us understand how the refund money comes into the account.
How will the refund come directly into the bank account?
When any income taxpayer files his income tax return, the Income Tax Department checks it. If all the information provided by the taxpayer is correct and the calculation based on that determines the tax refund amount, then the department starts the process of sending that amount to the taxpayer's bank account.
But for the refund amount to be deposited in the account, the bank account details given by the taxpayer to the Income Tax Department must be verified or validated. If the taxpayer's account details are not correct or the account is not validated, then the refund amount will not be deposited in his account.
It is important to validate the bank account.
After filing the income tax return, to get the tax refund without any delay, the taxpayer can check in advance that the details of his bank account with the Income Tax Department are correct and the account has been validated. Those whose bank accounts are not validated can do this work online by visiting the e-filing portal of the Income Tax Department.
Yes, to do this, you must be registered on the e-filing portal first. If you have filed income tax returns earlier, then you must be registered on the e-filing portal.
Apart from this, keep in mind that by going to the e-filing portal of the Income Tax Department, you will be able to validate only that bank account online, which will be linked to your Permanent Account Number i.e. PAN. For online validation, you should have all the details related to your bank account including the IFSC code.
How to validate a new bank account
Step 1: Go to https://incometax.gov.in/iec/foportal/
Step 2: After logging in, click on 'Profile'
Step 3: Click on 'My Bank Account'
Step 4: After clicking on the 'Add Bank Account' tab, fill in all the details related to your bank account
Step 5: After this click on 'Validate'.
Step 6: Complete the process mentioned below for account validation
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