Have you encountered the frustrating issue of your income tax refund failing, even after entering the correct bank details? You’re not alone! This problem has been affecting numerous NRIs this year. In today’s video, we’ll walk you through the steps to resolve failed refunds when everything seems to be in order.
Why Refund Failures Occur
The Income Tax Department appears to be facing technical glitches this year, especially for NRIs. While many refunds are processed smoothly, some have been credited to bank accounts other than the specified NRO account. Additionally, some NRIs have experienced repeated refund failures despite submitting multiple reissue requests.
If this sounds familiar, here’s a strategy that has helped many NRIs resolve the issue successfully.
Step-by-Step Guide to Fix Failed Refunds
Step 1: Log In to Your Income Tax Account
Begin by logging into your account on the Income Tax e-filing portal, as you usually would.
Step 2: Go to the ‘My Bank’ Section
Navigate to the Profile Section, and click on ‘My Bank’ to manage your registered bank accounts.
Step 3: Remove All Bank Accounts Except the Desired One
Here’s the key step:
- Delete all other bank accounts from the list, even if they are validated or EVC-enabled.
- Keep only the account where you want your refund to be credited.
Step 4: Revalidate the Remaining Bank Account
Even if your bank account has already been validated before, revalidate it again. This ensures that the account is fully eligible to receive the refund.
Step 5: Submit a Refund Reissue Request
Once your account is revalidated, go to the ‘Service’ tab in your income tax profile and submit a refund reissue request.
Important Note for NRIs
For NRIs, the refund will only be credited to an NRO account. Refunds cannot be processed into NRE accounts, so make sure your specified account is an NRO account.
By following these steps, your refund should be successfully credited within a few days. Be sure to complete the revalidation process yourself, as it requires submitting OTPs during the process.
If you have any further questions or need assistance, feel free to reach out to us at admin@ushmaassociates.com or info@nricaservices.com, or contact us via call/WhatsApp at +91 9910075924.
Stay proactive, and don’t let technical issues delay your refunds any longer!
