Dear Friends,
This is the situation of one of our family members:
1) Last name was updated post marriage in most documents and bank account, but not in PAN
2) The income tax efiling is complete with maiden name (as pan was not updated with new name and the form16 has maiden name as well)
3) The ITR was processed and refund issued.
4) The refund status shows Account Closed and electronic credit rejected (even though the bank account is active)
The above is possibly happening because of the name mismatch between the name in PAN card (maiden name) and the bank account (new name). This is the only bank account held by the assessee.
Can the knowledgeable members please suggest which is the best way to sort out? If the PAN is updated with the new name and refund reissue requested, will we be able to receive the amount.
Many thanks in advance for your inputs!
CAclubindia
