Festive Savings Are Here. Get 10% OFF on All CCI Pro Plans. Subscribe Now!

BANK ACCOUNT VALIDATION

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

PARAS CHHAJED

PARAS CHHAJED

(Querist)

28 July 2024 A bank account is prevalidated on ITD website. It shows "Restricted Refund". what does this mean? Is the amount of refund restricted to some upper limit or is there any other implicatoin. Please guide. Thanks

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

28 July 2024 1. Reason For Restricted Refund -Click the 3 dots beside acct # & click 'View Bank details' ... it will show reason as “Refund can be credited only up to ..... due to name/data mismatch between Bank account & PAN.
2. Restricted Refund shows when our data in bank is not matching with Pan Data base. Generally, our name is not fully shown in bank. Get name rectified in bank by giving Aadhaar which shows our full name. After rectification in bank Revalidate the account in Income Tax site.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now