The Income Tax Department releases refunds, if any, only as an electronic refund to the taxpayer. The releasing process of tax refunds through cheques has been discontinued. To receive the refund amount, proceed as follows, The taxpayer’s bank account must be linked with his permanent account number (PAN) and It should have been pre-verified on the income tax e-filing web portal.
1. Access IT(Income Tax) portal
The taxpayer needs to visit the income tax e-filing portal, the official department site at https://www.incometaxindiaefiling.gov.in.
To access the portal, you will need to enter your username (PAN for Assessor) and password along with the Captcha code to log in.
Those who have not registered in the IT e-filing web portal need to register themselves in advance.
2. Select the right tabs
After logging in, the assessee should check the Dashboard tab. Then click the “Profile settings” tab to display the options drop-down menu. Select the prevalidate your bank account option and continue.
3. Prevalidate account
The taxpayer must enter the bank account number, IFSC code, bank name, mobile phone number, and email ID. Note that Your PAN, mobile phone number, and email ID should be the same as those listed in your bank account. After this, the taxpayer should then click the ‘prevalidate’ button.
The status of pre-validation is sent to the taxpayers registered email ID and mobile phone number. Besides, you can view your status by logging into the e-filing portal and clicking the Profile Settings and Pre-Verifying Your Bank Account tabs.
4. Points to consider
=> It is essential that the taxpayer first link the permanent account number (PAN) to the bank account so that the bank account can be pre-verified.
=> The taxpayer can only verify the income tax return using a bank account validated in advance.