In a recent public communication on its website, the Income Tax Department has notified that it will be making tax refunds "only" through the electronic route, which means that you are required to link your PAN with your bank account so that the refund reaches you.
You are also required to validate your bank account details on the profile of your e-filing platform. The notification also said that the account can be savings, current or overdraft one.
"Income Tax Department will issue only e-refunds from 01.03.2019. Refunds will be given only to bank accounts (savings/current/cash/DD) which are linked with PAN," it said.
How to check if your bank account is linked with PAN?
According to the Income Tax Department, "To check if your bank account is linked with your PAN, login into the income tax e-filing portal and go to Profile setting>pre-validate your bank account."
If your bank account is not linked yet, you can give your PAN details at your bank.
You must also pre-validate your bank account. Login to e-filing portal, Profile setting>pre-validate your bank account and fill the details.
- If your bank is integrated with the e-fling portal, pre-validation will be done directly through EVC and net banking route
- If your bank is not so integrated, then the Income Tax Department will validate the bank account from the details filled by you.
Also, note that the last day to mandatorily link your Aadhaar with your PAN is 31 March 2019.