ITR Filing: Have you filed wrong bank account details in income tax return form? Here's how to correct it

The deadline for filing Income Tax Return (ITR) is approaching and a simple mistake while filing your ITR may lead to several problems, including delays in receiving your tax refund. However, there's no need to panic. There are steps you can take to correct this error.

The last date for ITR filing for Financial Year 2022-23 (AY 2023-24) is 31 July 2023 for those taxpayers who don’t need a tax audit.

One of the most common errors while filing ITR is entering wrong bank account details in the ITR form. Here is what you need to do to correct the wrong account details in your ITR form. 

Recognising the Error

The first step to correcting an error is recognising the wrong information shared in the ITR form. Carefully review your ITR form and identify any inconsistencies in the bank account details provided. Verify these details with your bank statement or passbook to confirm any discrepancies. If you discover that you have submitted incorrect details, move to the next step.

Precautions to avoid incorrect filing

To prevent filing incorrect information, one must verify all data in the pre-filled ITR forms for accuracy. Taxpayers should cross-check their details with essential documents like Form 16 for salary income and Form 16A for non-salary income. Reviewing TDS certificates to ensure the deducted tax aligns with bank statements and other documents is a crucial step.

Steps to correct wrong account details

The account details can be corrected online if the return hasn't been processed yet. Log on to the e-Filing Portal at www.incometaxindiaefiling.gov. in and navigate to the 'Change ITR Form Particulars' section to update the details in the submitted ITR Form.

If the return has already been processed, a refund re-issue can be requested. Follow these steps to update your bank account details online:

·       Log into the Income Tax Department's e-filing portal, go to the 'My Account' tab, and select 'Service Request'.

·       Choose 'New Request' under 'Request Type' and 'Rectification' under 'Request Category'.

·       Specify the relevant assessment year for 'Return Data' and select 'Intimation u/s 143(1) for Return Data' under 'Order/Intimation to be rectified'.

·       Under 'Rectification Request Type', select 'Taxpayer is correcting data for Tax Credit Mismatch only', and choose 'Bank Account Details' for correction. Update the details and hit 'Submit'.

Rectifying other incorrect details

Taxpayers may also enter wrong personal details like their address, mobile number, and e-mail. These can be corrected on the e-Filing Portal in the 'Change ITR Form Particulars' section.