Important Update for AY 2024-25
In AY 2023-24 Tax payer has to select a bank account in ITR in which he wants credit of his tax refund and such account needs to be pre-validated on the IT Portal to receive refunds
From AY 2024-25 option of selection of bank account for credit of refund has been removed
Refund will be credited to the pre-validated bank account of tax payer (if multiple bank accounts then refund will be credited to one of the pre-validated accounts)
Bank account number must be linked with your PAN to receive refund.
Refund can be issued in the following account types: Savings, Current, Cash Credit, Over Draft & Non Resident Ordinary.
Refund cannot be issued to bank accounts which are closed, invalid, under litigation or in blocked status.
So the most important task in refund cases is check validation status of bank accounts in which you want credit of tax refunds before uploading any ITR forms