Income tax

How to change bank account details to receive a tax refund

By Anshul IST (Released)


How to change bank details to get an income tax refund after filing your tax return or ITR.

A taxpayer must add their bank account number when filing the income tax return (ITR) – the last date of which was July 31 – to receive the value of the refund. An incorrect entry or an error in mentioning the bank account number may lead to a delay in the reimbursement of the tax.

The key question is: what recourse is available to taxpayers?

Simply, a taxpayer must submit the correct bank account number after selecting a refund reissue option.

And here are the steps to request a refund reissue:

Step 1:

Log in to the income tax website using the credentials

2nd step: Go to ‘Services’ and select ‘Refund Re-issue’.

Step 3: Select “Create Reissue Refund Request”

Step 4: Select the case for which the reimbursement request must be reissued

Step 5: All pre-validated bank accounts with validated/validated status and EVC enabled will be displayed. Select the bank account to which taxpayers wish to receive the refund.

If taxpayers do not have pre-validated bank accounts, they are directed to the bank account pre-validation screen. In this screen, the taxpayer must enter all the relevant details of the bank account on which he intends to receive a refund and click on the “Pre-validate” button to proceed with the submission of the request.

Once this account has been pre-validated by the bank concerned, the bank account will automatically be considered for a refund reissue. This account will now be displayed under pre-validated bank accounts in the e-filing portal.

Step 6: Next, click on the “Proceed to verification” button

A refund is granted to taxpayers when the taxes paid are greater than the actual tax debts. To obtain a refund of excess tax paid, taxpayers are required to file an ITR.

How do I check ITR refund status online?

One can check the tax refund status online through the Income Tax Electronic Filing website – You can access the “Status of tax refunds” tab.

A message will appear, indicating the method of payment, a reference number, the status and the date of the refund.

It can also be consulted on the e-governance site of the National Securities Depository Limited (NSDL): Taxpayers can also view it through the National Securities Depository Limited (NSDL) e-governance website.

What if a tax refund has not been credited?

Taxpayers should check their email to see if there is a communication from the income tax department requesting a response. It is essential to respond to the email, if any, at the earliest. They can also submit a service request on the electronic filing portal.

The Department of Income Tax (IT) had allowed taxpayers to claim any excess tax payments for the 2021-22 fiscal year by filing a tax return by July 31, 2021, without any penalty. Those who did not can file a late return now with some penalty.