Income tax return: How to change bank account details after filing ITR
Taxpayers are required to to add their bank account number while filing the income tax return (ITR) to receive the refund value. A wrong entry or mistake in mentioning the bank account number means no refund. However, the good news is that the tax department provides an option to edit/change the bank and personal details after filing the tax return, which means these mistakes can be rectified.
Simply, a taxpayer needs to submit the correct bank account number after selecting an option of refund re-issue.
Here are the steps to apply for a refund re-issue:
Step 1:
Log in to the income tax website using the credentials
Step 2: Go to ‘Services’ and select ‘Refund Re-issue’.
Step 3: Select ‘Create Refund Re-issue Request’
Step 4: Select the record for which the request for refund is to be reissued
Step 5: All the pre-validated bank accounts with status validated/validated and EVC enabled will be displayed. Select the bank account where refund is to be received. If taxpayers do not have any pre-validated bank accounts, then they are directed to the pre-validate bank account screen.
Step 6: In this screen, the taxpayer should enter all relevant details of the bank account where they intend to receive a refund and click on the 'Pre-validate' button to proceed with the request submission.
Step 7: After this account is pre-validated by the concerned bank, the bank account will be automatically considered for refund re-issue. This account will now be displayed under pre-validated bank accounts in the e-filing portal.
Additionally, assesses can check the status of the tax refund online through the income tax e-filing website and then navigate to the 'Status of Tax Refunds' tab. A message will pop up, giving the mode of payment, a reference number, status and date of refund.
Taxpayers can also check it via the e-governance website of the National Securities Depository Limited (NSDL).
The Income Tax (I-T) Department has allowed taxpayers to claim any excess payment of tax for the financial year 2022-23 by filing an income tax return by July 31, 2023 without any penalty.
