ITR filing: How to add, validate your bank account This account can also be used for receiving tax refunds. Heres how to add and validate a bank account
Once an income-tax return is uploaded or filed on the tax portal, it needs to be validated for authenticity. One can do so by adding and validating a bank account. This account can also be used for receiving tax refunds. Here’s how to add and validate a bank account.Log in to the tax portal
Visit the Income Tax Department’s e-filing website (www.incometaxindiaefi ling.gov. in) and log in using your credentials. If you are a new user, you will need to register and create an account.
Access profile settings
After logging in, click on your profile or user account. From the dropdown menu, select ‘profile settings’.
Add bank account
In ‘profile settings, choose ‘pre-validate your bank account’ or ‘bank account e-verification’. Enter the details of your bank account, such as bank name, account number, IFSC code, and mobile number registered with the bank.
Validate account
Account validation can be done via Electronic Verification Code (EVC) or Net banking. If your mobile number and bank account are linked to Aadhaar, use the EVC option. You will get an OTP on your mobile. Enter it on the portal to validate the account. If Net banking is enabled for the account, the portal will redirect you to the bank’s site. Log in and validate your bank account.
Successful validation
After the validation process is complete, you will receive a confirmation message. Your bank account is now successfully added and validated for income-tax purposes.
Content on this page is courtesy Centre for Investment Education and Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.
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(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
This story originally appeared on: India Times - Author:Faqs of Insurances
