Correct details to get prompt refund

We should not hurry with the filing of income tax return as this could lead to future problems. When a taxpayer fills all the details in the ITR they should be aware of the details which they are providing and must ensure that the details furnished by them are correct. Most of the common mistakes that a taxpayer do are as follows:

• Selection of incorrect Assessment year (AY) like selecting AY 12-13 instead of AY 13-14
• Wrong PAN
• Providing incorrect bank details.
• Incorrect email id.
• Selecting wrong ITR Form.

Above mistakes may result in various issues but the major issues which generally people are facing is non issuance of refund amount to their bank account or address.

Reasons of non issuance of refund amount:

The most painful thing which happens to a lot of taxpayers now days is that their refund is cancelled by the Income Tax Department. The most common reason of not issuing refund amount is due to incorrect bank account details. Now, since the bank account details has been filled up incorrectly,  refund procedure is delayed by the department but most interestingly taxpayer is not aware of the issue until they are in receipt of notice from the department for refund non issuance.

The notice which is sent by the department contains the reason of non-issuance of the refund amount to the taxpayer account like incorrect address mentioned in the ITR or incorrect account number or incorrect MICR code or incorrect IFS code.

Steps of refund reissue request:

When refund amount is cancelled by the department due to incorrect bank account details then to reissue the refund amount we should file a request online following the steps below:

• Go to www.incometaxindiaefiling.gov.in
• LOGIN to your Account
• GO TO ‘My Account’
• Refund re-issue request’.
• Select the mode through which you wish to receive the refund – ECS or Cheque. Enter the new Bank Account Number and provide address details & submit the request. Once the request is submitted, your Bank Account Number will be updated.

Often many of the refunds are cancelled due to wrong address or change in address. To get your refund to your address please follow these steps:

• Go to www.incometaxindiaefiling.gov.in
• LOGIN to your Account
• GO TO ‘My Account’
• Refund re-issue request’.

Provide the new Address & submit the request. Once the request is submitted, your new Address is updated.

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