The month for filing an income tax return (ITR) has begun, and it’s crucial to pre-validate your bank account before filing. If you fail to pre-validate your bank account, you may lose your hard-earned money, even after all the necessary steps have been taken. All taxpayers must pre-validate their bank account on the income tax e-filing portal before beginning the ITR filing process. This ensures a hassle-free electronic refund of their money on time. Additionally, taxpayers should link their bank account with their PAN card to receive a refund.
Before pre-validating your bank account on the portal, here are some things you should check:
– You must be a registered taxpayer on the e-filing portal.
– You should have a valid bank account number, and you must have a valid IFSC code of your home branch.
– Your bank account must be linked with your PAN card.
To pre-validate your bank account, follow this step-by-step process:
1. Go to the income tax e-filing portal at www.incometax.gov.in.
2. Use your login details after opting for the ‘Login’ option on the website. People can also log in with the help of their PAN card or Aadhaar card.
3. After logging in, select the option ‘My Profile’ and opt for ‘My Bank Account.’
4. As soon as you click on the option of ‘My Bank Account,’ select the option ‘Add Bank Account.’
5. After selecting the option, you will see a window to fill in all the necessary details of the bank account you wish to add. Enter necessary details like bank account number, type of the account, name of the account holder, IFSC code, bank name, branch name, etc.
6. Other details like PAN number, email address, and mobile number will be auto-updated once you fill in the previously mentioned bank details.
7. Click on the ‘validate’ button to submit the details of your bank account.
To check the status of a pre-validation request, follow these steps:
1. Visit the income tax e-filing portal at www.incometax.gov.in.
2. Login with the ID and password, or with the help of Aadhaar or PAN details.
3. Click on the ‘My Bank account’ option under the profile settings tab.
4. You will be able to see the status of your bank pre-validation request there. If you pre-validated more than one bank, you can nominate a particular one.
Remember to pre-validate your bank account before filing your ITR and follow the step-by-step process mentioned above. This will give you a hassle-free experience and help you receive your refund promptly.