Retired Bank Employee
124 Points
Joined March 2008
Reason For Restricted Refund -Click the 3 dots beside acct # & see View Bank details it will show reason as “Refund can be credited only up to <50L> due to name mismatch between Bank account & PAN. 50 L does not mean 50 lakhs, but it must be 50 thousand.
Restricted Refund shows when our name in bank is not matching with Pan Data base. Generally our surname 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.