Update Bank Account for Income Tax Refund Why It’s Important
Every year, lakhs of Indian taxpayers face refund delays simply because their bank account is outdated or not validated with the Income Tax Department. Updating your bank account for income tax refund is crucial to get your money on time.
What Does the Income Tax Department Require?
PAN-linked account:
This ensures the refund goes to the correct person.
Pre-validated account:
The account should be pre-validated on the e-filing portal.
Active & KYC-compliant:
Dormant accounts or accounts with incomplete KYC often cause refund failures.
How to Update Bank Account for Income Tax Refund
Follow these simple steps:
1️⃣ Login to Income Tax Portal:
Go to www.incometax.gov.in.
2️⃣ Navigate to ‘Profile’:
Under ‘My Profile’, click on ‘My Bank Accounts’.
3️⃣ Add New Account:
Click on ‘Add Bank Account’. Enter bank details like IFSC, account number, and select ‘Refund Account’.
4️⃣ Validate:
The system verifies your bank account through your bank.
5️⃣ Set as Primary Refund Account:
Mark the updated account as the primary refund account.
Expert Tip
📌 Use net banking: Linking your account via net banking often speeds up validation compared to manual addition.
Common Issues and How to Avoid Them
| Problem | Solution |
|---|---|
| Refund failed | Check if the account is closed or IFSC changed |
| Refund delayed | Ensure PAN linking and KYC are done |
| Multiple accounts added | Mark only one as primary for refund |
FAQs
1️⃣ Can I change my refund bank account after filing ITR?
Yes. You can update and validate a new account even after filing. Just login and edit under ‘My Bank Accounts’.
2️⃣ How long does validation take?
Usually 1–3 working days if your mobile is linked with the bank.
Summary
To get your income tax refund without delays, make sure your bank account is active, PAN-linked, and pre-validated on the Income Tax e-filing portal. Update it in your profile, validate it via net banking, and mark it as your primary refund account.
Conclusion
Timely refund is your right — don’t lose it due to an outdated bank account. Update your bank account for income tax refund today and avoid hassle later.