E-Pay Tax Service: It is necessary to pre-validate the bank account while filing income tax return. This becomes all the more important if you want a refund for any excess tax paid. If this is not done, the Income Tax Department will not be able to credit the income tax refund due on you.
The last date for filing income tax return for the financial year 2022-23 is 31 July 2023. Most of the salaried individuals would have received Form 16 by now, so that they can start filing their ITR.
It is necessary to pre-validate the bank account while filing income tax return. This becomes all the more important if you want a refund for any excess tax paid. If this is not done, the Income Tax Department will not be able to credit the income tax refund due on you.
Form 16 is an important document to file ITR for salaried class. It is an annual certificate issued by the company. E-pay tax service is now enabled for DCB Bank with over the counter and net banking option. With this, 25 banks are now available on e-pay tax service for making tax payments.
List of banks for tax payment
1) Axis Bank
2) Bank of Baroda
3) Bank of India
4) Bank of Maharashtra
5) Canara Bank
6) Central Bank of India
7) City Union Bank
8) DCB Bank
9) Federal Bank
10) HDFC Bank
11) ICICI Bank
12) IDBI Bank
13) Indian Bank
14) Indian Overseas Bank
15) IndusInd Bank New Bank
16) Jammu and Kashmir Bank
17) Karur Vysya Bank
18) Kotak Mahindra Bank
19) Punjab National Bank
20) Punjab & Sind Bank
21) RBL Bank
22) State Bank of India
23) South Indian Bank
24) UCO Bank
25) Union Bank
Be careful while filing ITR
Taxpayers should file their ITR carefully and avoid some common mistakes such as forgetting to verify their ITR, and selecting the wrong assessment year.
It is necessary to verify ITR
Forgetting to verify this while filing income tax return is a common tax filing mistake. Taxpayers often realize this mistake only when they receive a notice from the Income Tax. Rectifying this mistake can be time consuming as well as costly. Currently, taxpayers have 30 days after submitting the ITR form to verify it.
Apart from this, many taxpayers also get confused between assessment year and financial year. This too should be filled with care. Remember that the assessment year always comes after the financial year. You need to select Assessment Year 2023-24 for current tax filing.
