Linking PAN with bank mandatory for refunds from March: I-T to taxpayers

1. Linking PAN with bank mandatory for refunds from March: I-T to taxpayers Till now, the department used to issue refunds to taxpayers either in their bank accounts or through account payee cheques, in a case-to-case basis depending on the category of taxpayers The Income Tax Department will "just" issue discounts through the e-mode into financial balances of citizens starting one month from now and they should connect PAN with their records, the taxman said in its most recent open correspondence.

2. The office said discounts will be sent to ledgers as it will issue "just e- discounts from March 1, 2019." Connection your PAN (lasting record number) with your ledger toget your discount specifically, quickly and safely, the office said in an open warning issued Wednesday. It included the financial balance could be either reserve funds, current, money or overdraft. Till now, the office used to issue discounts to citizens either in their financial balances or through record payee checks, for a situation to-case premise contingent upon the classification of citizens. The correspondence included citizens can check if their ledger is connected with their PAN by signing onto the e-recording site of the division - https://www.incometaxindiaefiling.gov.in/home It said the individuals who have not connected their PAN with their financial balance ought to give it to their home bank office and furthermore approve this over the e-recording site of the I-T Department. Continue Reading