Guidelines for Receiving Your Income Tax Refund

To ensure a smooth process for receiving your Income Tax refund, please follow these essential guidelines:

1. Link Your Bank Account with PAN

• Requirement: Ensure the bank account where you want to receive your refund is linked with your PAN. Acceptable account types include:
  • Savings
  • Current
  • Cash Credit
  • Overdraft
  • Non-Resident Ordinary (NRO)
• Name Matching: The name on your PAN and the name in your bank account must match exactly.

2. Account Status

• Eligibility: Refunds cannot be issued to accounts that are:
  • Closed
  • Invalid
  • Under litigation
  • Blocked

3. Enabling EVC (Electronic Verification Code)

• Eligibility: EVC can only be enabled for individual taxpayers and for one validated bank account at a time.
• Contact Details: Ensure that the mobile number or email ID in your e-Filing user profile matches the details linked with your bank account.
• Updating Details: If your mobile number or email ID linked with the bank changes:
  • Update the contact details in your e-Filing profile.
  • Revalidate your bank contact to update your information with the bank.

4. Uses of EVC

• Verification: Validate Income Tax returns and other forms.
• e-Proceedings: Participate in e-Proceedings.
• Refund Reissue: Request reissue of refunds.
• Password Reset: Reset your e-Filing account password.
• Secure Login: Ensure secure access to your e-Filing account.

5. Eligible Banks for EVC

• Bank of Baroda
• Bank of Maharashtra
• Dhanlaxmi Bank Ltd
• RBL Bank Limited
• Bank of India
• DCB Bank Ltd
• The Saraswat Cooperative Bank Ltd
• IDFC FIRST BANK LIMITED
• The Cosmos Cooperative Bank Ltd
• JANA SMALL FINANCE BANK LTD
• UCO Bank
• Axis Bank
• Indian Bank
• IDBI Ltd
• ESAF SMALL FINANCE BANK LIMITED
• South Indian Bank
• Indian Overseas Bank
• Karnataka Bank Ltd
• Canara Bank
• Central Bank of India
• City Union Bank Ltd
• Federal Bank Ltd
• HDFC Bank Ltd
• ICICI Bank Ltd
• EQUITAS SMALL FINANCE BANK LIMITED
• Union Bank of India
• Punjab National Bank
• The Jammu and Kashmir Bank
• Karur Vysya Bank
• Kotak Mahindra Bank
• State Bank of India
• Kalupur Commercial Cooperative Bank
• UTKARSH SMALL FINANCE BANK
• The Banaskantha Mercantile Co-Operative Bank
• AU SMALL FINANCE BANK LIMITED

By adhering to these guidelines, you can ensure your Income Tax refund is processed smoothly and without delay.