This is essential to get income tax refund: Bank account revalidation

Having a validated bank account is essential to receive income tax refunds.

Income tax payers must revalidate their bank account on the income tax e-filing site for receiving refunds, according to a post of the Income Tax Department on X.

Revalidating bank accounts are now a necessity for getting income tax refunds (Representative Image)

Revalidation is to be done when bank account data is updated due to branch changes, IFSC changes, or bank mergers, according to an Economic Times report.

Prerequisites for availing this service

• Must be a registered user on the e-Filing portal with valid user ID and password
• PAN must be linked with the bank account which is to be revalidated

To add bank account

• Account must be linked with PAN
• User must have a valid IFSC and Account number

To revalidate existing bank account

Step 1: Visit https://incometax.gov.in/iec/foportal/

Step 2: Login and click on Profile

Step 3 Choose ‘Bank Account’ and click Revalidate

Step 4: Update Bank Account Details such as a/c No., IFSC, a/c type

Step 5: Click on Validate.

To add a new bank account

Step 1: Visit https://incometax.gov.in/iec/foportal/

Step 2: Login and click on ‘ Profile’

Step 3: Click on My Bank Account (the Added, Failed and Removed Bank Accounts tabs will be displayed.)

Step 4: Add Bank Account

Step 5: Click on Validate.

Post validation, any bank account number in the database would have one status out of the below mentioned four status types. The exact details of the accounts can be seen by hovering mouse over these icons in the Tax Payers’ dashboard in FO Portal; Success, Failure, Success With Remark, Pending for Validation.

If the account status is shown as “Pending for Validation” then please wait since the account will be validated by NPCI.

Note that the tax payer at any time can add/delete the bank account details and new account details will be validated.

Services which can be availed

• Add a bank account and pre-validate it.
• Remove a closed or deactivated bank account.
• Nominate a validated bank account to receive Income Tax refund.
• Remove a bank account from nomination so as not to receive tax refund in that account.
• Enable or disable EVC for the validated bank account (only for individual taxpayers).
• Revalidate bank accounts for which pre-validation has failed.