Do this now to get Income Tax refund on time
Income Tax E-Filing Refund: Come March, the Income-tax department will only issue e-refunds but only to those who have linked their PAN with the bank account.
Income Tax E-Filing Refund: Come March, the Income-tax department will only issue e-refunds but only to those who have linked their PAN with the bank account. So, if you have not yet linked your PAN with bank account do it now to receive timely refunds from the Income tax department. Here are all you need to know:
Income Tax E-Filing Refund: What tax department says
Income Tax E-Filing Refund: The Income Tax Department will "only" issue refunds via the e-mode into bank accounts of taxpayers beginning next month and they should link PAN with their accounts, the taxman said in its latest public communication. The department said refunds will be sent to bank accounts as it will issue "only e-refunds from March 1, 2019." Image: Pixabay
Income Tax E-Filing Refund: Link bank account with PAN
Income Tax E-Filing Refund: Link your PAN (permanent account number) with your bank account to get your refund directly, swiftly and securely, the department said in a public advisory issued Wednesday. It added the bank account could be either savings, current, cash or overdraft. Image: Pixabay
Income Tax E-Filing Refund: Current rule
Income Tax E-Filing Refund: Currently, the income tax department used to issue 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. Image: Pixabay
Income Tax E-Filing Refund: Check here if your bank account is linked with PAN
Income Tax E-Filing Refund: The income tax department has said the taxpayers can check if their bank account is linked with their PAN by logging onto the e-filing website of the department:
https://www.incometaxindiaefiling.gov.in/"https://www.incometaxindiaefiling.gov.in
(Image: Pixabay)
Income Tax E-Filing Refund: What to do
Income Tax E-Filing Refund: The income tax department said that those who have not linked their PAN with their bank account should provide it to their home bank branch and also validate this over the e-filing website of the I-T Department. Image: Pixabay
PAN-Aadhaar linking
PAN-Aadhaar linking: The linking of the PAN with the Aadhaar-PAN has been made "mandatory" recently for those filing an Income Tax Return (ITR) and this procedure has to be "completed" by March 31 this year. Official data till early this month show the I-T Department has so far issued 42 crore PANs, of which 23 crore have been linked with Aadhaar. Aadhaar is issued by the Unique Identification Authority of India (UIDAI) to a resident of India. PAN is a 10-digit alphanumeric number allotted by the IT Department to a person, firm or entity. Image: Pixabay