Refund fails - bank name mismatch issue

ITR 755 views 3 replies

Dear Friends, Need a help .

I filed taxes but never had any issues these many years as I didnt had any refunds.

But this year , I got a refund of some 20k Rs as I paid extra self advanced tax - I got my refund but failing in my bank account with the message " PAN name is not matching with Bank Account name". This bank account was opened nearly 20 years back with initials in my name :(

My pan has first name , last name. Now I am clueless how to do the changes because the bank I hold account is SBI poor customer service and I dont want to mess it as i have lot of things associated to it.

I do have another bank account but thats again with initials.

Please let me know what are the options available for me ?

Can i open another bank account using PAN name format - what abt HDFC bank ?  Unfortunately my AADHAR , school , college and all other records have initials.

 

 

Replies (3)
Apply for PAN correction application with initials and the issue will be resolved in few days
To recive refunds CPC takes cautious ways to give credit to right person.
So, the name in the pan must be the same as in bank AC and vice versa.Only then the system will recognise it as correct person.
So now, instead of correcting pan name and making things more complex better open new bank AC with name as per pan.
then add new bank AC in ITR portal...add bank AC...
also your pan must be linked to adhar
you will also have to nominate and validate the said new account in portal
after ac gets validated raise refund reissue request in portal
Don't go for temporary solution. Go for permanent solution..

Since the problem is with PAN, you must add initial/Surname to match will bank name , aadhaar name ..

I suggest you to go for PAN correction which can be done in few hours through online


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