Very urgent!!

When we say 'firm' it usally means Partnership firm.

In your query, do you mean that the assessee Mr XYZ is proprietor of a business with a name  M/s XYZ traders?

If yes, the proprietory business and Mr XYZ are same and should use only one PAN. You should show all the bank accounts of mr XYZ in  M/s XYZ trader's BS and can use any bank account for refund.

Dear Pavel,

In case a person has a proprietorship firm then the return will be filed on the name of proprietor only. At the time of processing the refund the Income Tax Department sends the refund  in the Bank A/c mentioned by the assessee in his return. At the time of crediting the reund amount, Bank generally verify the name as per his records and the name as mentioned by the IT Department to refund the amount in order to protect the assesses from any sort of frauds. So I mean the name should be same as per ITR filed by the assessee and the Bank A/c in which he is asking for the refund. 

So in your case you should not use that Bank A/cNo. in which the net amount is credited as it is not in the name of the assessee from whose name you are filing the ITR. You may face difficulty in geting the refund. 

Now your 2nd question whether you can give any other Bank A/c fo gtting the reund. The answer is Yes you can provided the name of the assessee is correctly mentioned in that a/c. Ypu can also give that a/c no. which is a joint a/c and the assesse's name is second. It is not necessary that you have shown the interest income of that a/c in your assesse's return provided the person whose name is first has shown the interest income in his own return.

Regards

Rohit Gupta

RHT1203 @ GMAIL.COM