There are chances when taxpayers may have miscalculated income tax and paid in excess or their tax deducted at source (TDS) may have gone in excess. In such situations, taxpayers can get a refund of the excess amount by claiming a refund at the time of income tax return (ITR) filing.

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The income tax (I-T) department, in this case, verifies the returns and processes a refund. However, this can only be transferred electronically to a bank account if the account is linked with Permanent Account Number (PAN) and the taxpayers have pre-validated his/her bank account on the income tax e-filing portal at the time of return filing.

Also read: How to check the validity of Form 16?

Here are the steps to pre-validate your bank account online, according to ClearTax- an income tax return filing portal:

Step 1:

Visit the income tax e-filing portal -- incometaxindiaefiling.gov.in.

Step 2: Click on the ‘Login’ option and enter login credentials. Use PAN as the User ID.

Step 3: After logging, click on ‘Profile Settings’ and choose ‘Pre-validate Your Bank Account’ option

Step 4: Now, enter the bank account details such as account number, IFSC, bank name, and contact details. The PAN, name, mobile number, and email address provided with the bank account must match with that of the bank account to pre-validate successfully.

Step 5: Click on the ‘Pre-validate’ button.

Alternatively, individuals can check whether the bank account has been pre-validated or not by logging in to their account on the e-filing website under the 'Profile settings' option.

Also read: How to e-verify ITR using net banking, bank ATM, Demat account, Aadhaar OTP or bank account

For removing a particular bank account from the e-filing account, individuals can select the account they want to remove and click on the 'Remove' option under the 'Profile Settings' tab.

First Published:Sept 21, 2020 2:21 PM IST