Recently, the Income Tax
Department asked the taxpayers to link their PAN Card with their Bank Account
in order to get timely income tax refund directly, swiftly
and securely. Moreover, the I-T Department added that the bank account could be
either savings, current, cash or overdraft.
It is important for the taxpayers
to understand that the Income Tax Department will issue tax refunds only through
e-mode into bank accounts of taxpayers, for this hey should link PAN with their
accounts. The authorities from the I-T Department added that, they are sending
the tax refunds to the taxpayer’s bank accounts from 1st March 2019.
Earlier, the IT Department used
to issue the income tax refunds to taxpayers either in their bank accounts or
through account payee cheques, in a case-to-case basis depending on the
category of taxpayers. Now, to get their Income Tax Refund
the taxpayers will have to link their PAN with their Bank Accounts, they can
check whether their PAN is linked with Bank Account by logging into the Income
Tax Department’s official e-filing portal.
For those who have not linked
their PAN to their Bank Accounts, they should provide the details of the same
to their home bank branch and also validate this over the efiling
website of the I-T Department.
So, all the taxpayers need to link
their PAN to their Bank Accounts and get their refunds credited in their
respective accounts without any hassle.
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