Meaning of Restricted refund in bank account details on income tax portal
This query is : Resolved
Quick Summary
07 June 2023
The bank account is Validated and EVC Enabled on income tax portal. It has also been enabled for Refund nomination.
However it shows "Restricted refund" in bank account details displayed in profile on income tax portal.
1) What is the meaning of "Restricted refund" ?
2) Can this bank account be used for claiming refund?
3) what can be done to enable the refund on this account?
However it shows "Restricted refund" in bank account details displayed in profile on income tax portal.
1) What is the meaning of "Restricted refund" ?
2) Can this bank account be used for claiming refund?
3) what can be done to enable the refund on this account?
07 June 2023
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.
3. Yes, refund of such smaller amount will get credited to the account.
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.
3. Yes, refund of such smaller amount will get credited to the account.
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07 June 2023
Thanks.
The reason for restriction is not showing on the portal.
Yes, there is name mismatch between the bank account and PAN.
The reason for restriction is not showing on the portal.
Yes, there is name mismatch between the bank account and PAN.
07 June 2023
Get the rectification done at Bank site for the mismatch, and revalidate the account, the defect will be removed.
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