Here are some common mistakes people make when uploading bank details for Income Tax Day 2023 and how you can fix them easily.
Table of contents [Show] Mismatched Names | One common mistake is entering a different name in the bank details than what is registered with the Income Tax Department. Make sure the name on your PAN card matches the name on your bank account. If it doesn't, you need to correct it. |
Incorrect Account Number | Typos happen, and they can lead to wrong account numbers. Always double-check the account number you enter to avoid any errors. If you find a mistake, correct it immediately. |
Wrong IFSC Code | The IFSC code is like your bank's address. Entering the wrong IFSC code means the money may go to the wrong bank branch. Check your bank's website or ask the bank for the correct IFSC code. |
Choosing the Wrong Account Type | Sometimes people select the wrong account type, such as choosing a savings account when they have a current account. Make sure to pick the right account type from the drop-down menu. |
Incomplete Bank Details | Missing even a single digit of your account number or IFSC code will lead to issues. Fill in all the required details accurately. |
Using Someone Else's Bank Account | You should never use someone else's bank account for tax purposes. Always use your own account to receive refunds or pay taxes. |
How to Rectify Mistakes:
Log in to the Income Tax Portal
Go to the Income Tax Department's official website and log in using your PAN card number as your User ID and your password.
Go to Profile Settings
Once logged in, look for "Profile Settings" on the top right corner of the portal.
Click on 'Bank Account Details'
In the Profile Settings, find and click on "Bank Account Details."
Choose 'Edit'
To correct any mistakes, click on the "Edit" option next to the bank details.
Make Necessary Changes
Correct the mistake by entering the right information in the appropriate fields.
Verify and Save
Double-check all the corrected details, and once you are sure they are right, click "Save" to update your bank details.
E-Verify Your Return
If you haven't already done so, file your Income Tax Return and e-verify it. It's important to confirm that the information you provided is accurate.
