How To Change Bank Account Details For Income Tax Refund?

When it comes to income tax refunds, ensuring that your bank account details are accurate and up-to-date is crucial. If you need to change your bank account information for receiving income tax refunds, it is essential to follow the correct procedure to avoid any delays or complications.The My Bank Account function is available to all registered taxpayers with a valid PAN and active bank account on the e-Filing portal (post-login).

All registered taxpayers on the e-Filing site (post-login) who have a valid PAN and a valid bank account are eligible for the My Bank Account service. By using this service, you can:

• Add a bank account and pre-validate it

• Remove a bank account that is closed or inactive

• Nominate a validated bank account as the recipient of your ITR.

• Remove bank account from nomination for refund.

• EVC for the verified bank account may be enabled or disabled (only for individual taxpayers).

• Pre-validated bank accounts should be revalidated.

How to add and Pre-Validate a Bank Account?

• Click Add Bank Account on the My Bank Accounts page.

• Enter the Bank Account Number, Account Type, Holder Type, and IFSC on the Add Bank Account page. Based on the IFSC, the bank name and branch are auto-populated.

• Your mobile number and email address will be pre-filled from your e-Filing profile and will not be editable if your bank is integrated with electronic filing.

• Click to validate

• A success message appears upon successful validation. Additionally, a message will be sent to the email address and mobile number you provided with the e-Filing platform.

How to Remove a Bank Account?

• Select the desired bank account

• Click Remove Bank Account

• When deleting the bank account, choose a reason from the dropdown menu.

• Enter the justification in the textbox after selecting Others, then click Continue.

• A success notification appears following the successful deletion of the bank account.

How to Nominate a bank account for refund?

• Access the e-Filing portal by entering your user ID and password.

• Go to My Profile

• Select the "My Bank Account" option.

• Enable the "Nominate for Refund" toggle or switch for the desired bank account to designate it for receiving the refund.

• Confirm your choice by clicking "Continue."

• Upon successful completion, the toggle will move to the right, indicating the nomination of the selected bank account for the refund.

How to Remove a bank account from nomination for refund?

• Access the e-Filing portal by entering your user ID and password.

• Go to the Dashboard and select the My Profile page.

• Locate and click on the My Bank Account option.

• Find the bank account you wish to remove from the refund nomination and click on the Nominate for Refund toggle or switch located on the right side.

• To confirm the removal of the selected bank account from refund consideration, click on Continue.

• Upon successful completion, the switch will shift to the left indicating the removal of the nomination.