Find How to Prevalidate Your Bank Account Online
Follow our simple guide to prevalidate your bank account on the official IT Portal. Get quick refunds without any hassle!
How to Prevalidate Bank Account at Income Tax Portal
In recent years, the Income Tax Department has introduced various initiatives to simplify the tax filing process. When taxpayers pay extra income tax or if extra TDS is deducted, they are liable for getting a refund.
The amount will be straightforwardly credited to their bank account, but wait! Taxpayers must pre-validate their bank account on the official income tax e-filing portal to get this refund. The Karr Tax team is here to guide you through all the steps involved in the process.
Prerequisites To Prevalidate Bank Account
Before starting the prevalidation, ensure you have the following prerequisites in order.
An active account on the Income Tax Portal
The bank account must be linked with your PAN and registered mobile number.
Ensure that your bank account mobile number is the same as the one used for the Income Tax portal registration.
Step-By-Step Procedure To Pre-Validate Bank Account
Step 1: Visit the Income Tax India website and log in using your PAN (Permanent Account Number) and password.
Step 2: Once done, head to the 'My Profile' section on the left side of the dashboard.
Step 3: Find the “My Bank Account” button and select it.
Step 4: Choose the “Add Bank Account” option. Here, you are required to add all your bank account details, including
Account number,
Account type,
Account holder type,
IFSC code,
Bank name, and
Branch.
Ensure that the details match those registered with your bank, including PAN, name, mobile number, and email address.
Step 5: After mentioning the required details, click on 'Validate' to submit your request for bank account validation. The system will automatically process your request.
Step 6: Your bank details and validation request will be forwarded to your bank. The portal will update the validation status within 24 hours.
If the validation is successful, your bank account details will appear under the 'Added Bank Accounts' tab, marked as “Validated and EVC enabled.”
If unsuccessful, the details will appear under 'Failed Bank Accounts.' You can resubmit failed accounts for re-validation.
Common Validation Errors on Income Tax Portal
Error | Potential Reasons | Solutions |
Restricted Refund | Mismatch in the name between the PAN & Bank | Update the name in PAN or bank |
PAN - Bank account - IFSC linkage failed | PAN is not available with the bank | Contact the bank to link your PAN with the bank account or update your KYC |
Invalid IFSC Code | IFSC code may change due to bank mergers | Submit a re-validation request by adding the correct IFSC code. |
Account number does not exist | The wrong account number was mentioned | Submit a re-validation request by adding the correct bank account number |
Closed/Inactive Account, Zero Balance, Litigation, Frozen or Blocked Account | The Bank account is no longer in use. | Use a different bank account. |
Frequently Asked Questions (FAQs)
Is pre-validation of a bank account necessary for receiving IT refunds?
Yes, pre-validation of a bank account is mandatory for receiving income tax refunds, incentives, or reimbursements that you may be entitled to under the tax regulations. This process ensures that the funds are deposited accurately and promptly.
2. How can I check or verify my income tax refund status?
You can check or verify your income tax refund status through the official Income tax portal. For a detailed explanation, click here.
3. How will I find out if my bank account pre-validation is successful?
Upon the successful completion of your bank account pre-validation, you can see the status of the validation request under the 'Added Bank Accounts' tab.
If the validation fails, the details of the failed bank accounts will be displayed under the "Failed Bank Accounts." You can revalidate this account and rectify any issues that led to the initial failure.
4. How can I prevalidate my bank account?
The following steps can be done to prevalidate the bank account.
Log in to your account on the official Income Tax Portal.
Under your name on the right side of the dashboard, click on the “My Profile” button.
On the left side, click on “My Bank Account. ”
Locate the “Add Bank Account” button and correctly enter all the required details, such as account number, IFSC code, etc.
After entering and verifying the details, click the “validate button.”
5. Can I prevalidate multiple bank accounts?
Yes, absolutely! You can pre-validate and nominate multiple bank accounts to receive income tax refunds. When pre-validating multiple bank accounts, ensure that the information entered for each account is accurate and matches the details associated with your income tax records.
6. How long does it take for the successful prevalidation of the bank account?
Generally, it takes a few hours or sometimes a day for the successful prevalidation. You can check the status under your profile settings, or a confirmation message will also be sent to your registered mobile number or email ID.
7. Does pre-validating a bank account automatically enable EVC for it?
No, EVC (Electronic Verification Code) is not automatically enabled when a bank account is pre-validated until the registered mobile number is the same in both the bank account and the Income Tax Account.
8. Is it possible to enable more than one pre-validated bank account for EVC?
No, it's not possible to enable EVC for more than one bank account simultaneously. The EVC activation is limited to a single bank account at a time.
You have reached the end of this article.