Income tax refund stuck? Your bank account perhaps not validated. This is how you can fix it | Mint
Source: Live Mint
Did you file your income tax return (ITR) well in time before July 31 this year and are still waiting to receive your refund? Well, you are not alone. There are a large number of taxpayers who are perhaps in the same boat.
Some have even expressed their grievance on social media, highlighting that they have been waiting for nearly seven months now and are clueless as to when they will get the refund.
Notably, the issuance of income tax refunds spiked 46.31 per cent between April 1 and November 27 in FY2024-25, the finance ministry announced on December 12 this year.
The Income Tax (I-T) Department has, meanwhile, pointed out that some taxpayers have yet not received their refund because they do not have a validated bank account.
In a post on social media platform X, the department said, “A validated bank account is necessary for receipt of refunds. Here’s how you can check your bank a/c validation status on e-filing portal.”
Here’s how you can check your bank a/c validation status on e-filing portal
1. First of all, you need to log in to incometax.gov.in
2. After logging in, you can visit My profile >>my bank account.
3. Now you need to click on ‘Add bank account’.
4. As a new window opens, you need to enter the bank account details.
5. Make sure you select account type, i.e., whether the account is saving or current, and holder type – whether you are an individual or company.
6. Also enter the IFSC of your bank account which is unique to the bank branch.
7. Finally, click on ‘validate’ to verify with the bank.
Interestingly, a number of taxpayers tagged the department to highlight their grievances. One Kishen Kumar pointed out that he had been waiting for over seven months and even raised the issue 10 times. In response to his query, the department said that it was flagging the issue again and the team would respond.
Another user said that his bank account was validated but the system showed that it was not eligible for a refund.
The department wrote back, saying that he should email orm@cpc.incometax.gov with his PAN and mobile number.
