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Revised Return for incorrect bank account number but original processed

SV (Manager) (46 Points)

28 August 2023

Hi,

I filed Original ITR - 2 on July 22, 2023. The filing person made a mistake in the bank account number which was marked for receiving refund. Next morning on July 23, 2023, I corrected only the bank account number and filed revised return.

Now, Original ITR has been processed and 143(1) received. Refund failed because of incorrect account number and I have been asked to raise Refund Reissue Request.

What should I do ? Should I wait for revised return to be processed ? Only difference in both the returns is the bank account number. Please advise.

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14 Replies

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 28 August 2023

You must validate the bank account on Income tax website

SV (Manager) (46 Points)
Replied 28 August 2023

Sir, bank account is already validated on the website. In the original ITR form, the tax filing person made an error in the order of digits. Hence, filed revised return. Now, original return is processed but refund failed because of the wrong account number. Question is

1) Should I raise refund reissue request on the basis of the processing of original return OR

2) Wait for revised return to be completely processed

There is no change in the refund amount in both original and revised returns

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 28 August 2023

You may raise refund reissue request.

Generally just for bank account change, revised return is not required.

Just validating the correct account number is sufficient

1 Like

RAJA P M ("Do the Right Thing...!!!") (127264 Points)
Replied 28 August 2023

Wait for revised return processing...

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 28 August 2023

Since there is no change in the income details, you may just raise refund reissue request and get the refund.

RAJA P M ("Do the Right Thing...!!!") (127264 Points)
Replied 29 August 2023

In this case revised return filed.
So, processing of the revised is awaiting the queue.

In case revised return also make the same issues then assessee will be raise refund reissue...

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 29 August 2023

Based on the current issue, they proceed. If refund is received through refund re issue then it is irrelevant to check revised return processing.

The main intension was to correct the bank account details which can be modified in refund reissue

sabyasachi mukherjee (26185 Points)
Replied 29 August 2023

There cannot be any mistake in the bank account number because it is validated. revised return may be due any other details.

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 29 August 2023

No change in income details

SV (Manager) (46 Points)
Replied 29 August 2023

As per the assistant to CA who filed the returns, the Genius software validated this wrong bank account number before filing the return. And obviously the refund has failed when the original return was processed because of this wrong bank account number. There is no other change - I filed the revised return to correct the bank account details only, nothing else

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 29 August 2023

Refund re issue is the right option to get the refund at this moment

SV (Manager) (46 Points)
Replied 29 August 2023

Based on the past and current year's pattern, how much time does it take to process a revised return if it is filed immediately after the original return ?

SV (Manager) (46 Points)
Replied 30 August 2023

Anyone who has had both their original and revised return processed, could you please help with this ?

Based on the past and current year's pattern, how much time does it take to process a revised return if it is filed immediately after the original return ?

SV (Manager) (46 Points)
Replied 20 September 2023

Now, the revised return has been processed with status "Processed with refund due" but refund has not been issued (or received in the bank account). It has been a week.

Return was revised only because of incorrect bank account number. Original was processed with instructions to submit refund reissue request.

1) Now that the revised return is processed, there is no point in touching the "refund reissue request" of original ?

2) Do I just continue to wait?

Please let me know.