A naukri.com initiative
Bloomberg Quint
1M
279
Image Credit: Bloomberg Quint
Income Tax Returns: How To Resolve A ‘Bank Account Validation Error’ While Filing ITR? A Guide
- Filing an Income Tax Return (ITR) is essential, and bank account validation is a crucial step to ensure refunds and tax deductions.
- Bank account validation error occurs when the submitted account details cannot be verified.
- Reasons for the error include unlinked bank account and incorrect account details.
- Steps to re-validate bank account: log in to e-Filing portal, visit 'My Profile', select 'My Bank Account', go to 'Failed Bank Accounts' tab, click 'Re-Validate', verify and update details, and click 'Validate'.
- Ensuring PAN linkage with the bank account and updating details can efficiently resolve the error.
- ITR filing for FY 2024-25 (AY 2025-26) has commenced.
- Bank account validation is crucial for receiving refunds and deductions.
- Errors can arise from unlinked PAN, incorrect account details, or closed/dormant accounts.
- Steps to re-validate: log in, navigate to 'My Profile' and 'My Bank Account', choose 'Failed Bank Accounts', select 'Re-Validate', update details, and click 'Validate'.
- Verifying account details and keeping them updated is essential for hassle-free ITR submission.
- Early filing and accuracy in account details are key for a smooth ITR process.
Read Full Article
16 Likes
For uninterrupted reading, download the app