Skip to content
Logo
  • Home
  • Contact Us
  • Technology
  • Business
  • Lifestyle
  • News
  • Sports

New income tax refund rules: Linking PAN card is mandatory

Posted on August 7, 2019August 7, 2019 by Mukesh Kumawat
New income tax refund rules 2019

From this assessment year, the Income Tax Department has introduced a new rule without which you will not be able to get any tax refund. Till now, this requirement was only to link your PAN (Permanent Account Number) with Aadhaar card to file Income Tax Return (ITR).

But now the Income Tax Department has started issuing income tax refunds only through e-mode. The new rule means that the earlier practice of sending tax refund checks via speed post has been done away with. It is also beneficial for those filing ITRs as these checks were sometimes delayed.

Although the I-T department was sending e-refunds for the last few years, the practice of issuing checks has completely stopped in the previous few months.

However, the taxman will credit the refund directly to your bank account only under one condition – the bank account must be linked to your PAN. If the linkage is completed, the Income Tax Department has promised to issue a tax refund directly to your bank account in a fast and secure manner.

A bank account can be savings, current, cash or even an OD account to get tax refund but PAN linkage is mandatory.

Linking your bank account with PAN is not a complicated process. Just make sure that you have shared a copy of your PAN card with your bank branch. If there is a PAN in their record, then both should be added automatically. If the linkage does not occur, the Income Tax Department has asked the taxpayers to contact the bank.

The taxman has also provided the facility to check whether the PAN-bank account is linked or not. You can go to the e-filing portal of the Income Tax Department, click on the Profile Settings section and then [“Verify your bank account in advance,” where you can check that any of your banks Whether the account is already valid.

If validation is not done, you can add a new bank account. [“Status]” column will tell you whether your bank account is valid or not.

To verify your bank account in advance, you will need to provide your bank account number, IFSC code, bank name, and mobile number to be linked to the account.

The e-filing portal also gives you the option to choose which bank account you want to credit.

For the latest Breaking News and Top Stories follow The Thus on Facebook, Twitter, Instagram and Pinterest.

Posted in BusinessTagged Bank Account, income tax, New Income Tax Refund Rules, Pan Card

Post navigation

Previous: Nokia says Brazil 5G auction may be the world’s largest yet
Next: Osteoporosis: How to deal with it without drugs?

Recent Posts

  • Property Valuation and the Impact of Green Energy Regulations
    By varsha
    In Tipes
    July 6, 2025
  • Property Consultant LondonLondon Property Trends 2025: Insights from Leading Property Consultants
    By vinay
    In General
    June 25, 2025
  • Why Greater Cincinnati Companies Trust Anago for Commercial Cleaning Services
    By varsha
    In Business
    June 4, 2025
  • Function Meets Purpose in Everyday Medical Practice
    By varsha
    In Careers
    May 19, 2025
  • How 5G is Transforming Enterprise Network Infrastructure
    By varsha
    In Tech
    May 13, 2025
  • Choosing the Right Commercial Cleaning Service: What to Look For
    By varsha
    In Business
    April 16, 2025
  • this expert window tinting serviceWindow Tinting Basics for New Car Owners: Enhance Safety, Comfort, and Style
    By vinay
    In Automotive
    April 10, 2025
  • Celebrating Diversity: How Inclusive Practices Foster Innovation and Growth
    By varsha
    In Business
    March 19, 2025
  • The Essential Guide to Maintaining Your Vehicle’s Health with Quality Auto Parts
    By varsha
    In Tipes
    March 19, 2025
  • 10 Things That Happen as You Age (and How to Adapt)
    By varsha
    In Tipes
    March 19, 2025
  • Slips, Trips, and Liability: Reducing Risks in Janitorial Services
    By varsha
    In Tipes
    March 5, 2025
  • Top Myths About Window Tinting Debunked
    By varsha
    In Tech
    February 27, 2025
  • Herbal Remedies for Hair Fall: Nature’s Solution for Stronger, Healthier Hair
    By varsha
    In Beauty
    February 20, 2025
  • get well giftsBeyond Flowers: Unique Ways to Show Support During Recovery
    By vinay
    In Lifestyle
    November 16, 2024
  • How to Collect Data for Your Advance Study Assignment on Aluminium-Zinc Alloy?
    By varsha
    In Tech
    October 10, 2024

Related Posts

  • Business

7 Reasons Why Businesses Migrate to Microsoft 365  

  • Swati
  • November 16, 2022
  • 3 min read
  • 0

Most people agree that Microsoft 365 is the standard in its field. Since businesses have […]

Top 10 Most Successful Women Entrepreneurs Of Our Time
  • Business
  • Top Stories

Top 10 Most Successful Women Entrepreneurs Of Our Time

  • TheThus
  • November 19, 2018
  • 6 min read
  • 0

Top 10 Most Successful Women Entrepreneurs Of Our Time: This is a man’s world ‘, he […]

employee
  • Business

Five things you can do to make it easier for your employees to enroll in your benefits plans

  • Sambit
  • April 4, 2021
  • 3 min read
  • 0

When your employees take advantage of your company’s small business health insurance Texas, it benefits both […]

Top Three Practical Ways To Boost Consumer Experience Marketing
  • Business
  • Top Stories

Top Three Practical Ways To Boost Consumer Experience Marketing

  • TheThus
  • September 25, 2018
  • 5 min read
  • 0

Top Three Practical Ways To Boost Consumer Experience Marketing: The service and experience of today’s customers […]

© Copyrights 2025 || All Rights Reserved || Powered By Thethus || Mail To Us : GuestPost@GeniusUpdates.com