Efiling

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30 July 2013 What is the procedure if we mention wrong IFSC code in efiling of ITR1

Ganeshbabu K

Ganeshbabu K (Expert)
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30 July 2013 1) if there is no refund leave it dont do any thing

2) if refund is there in ITR file a revised return

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C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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31 July 2013 The IFSC code is for identification of the Bank and its branch. If you mention incorrect code then you are providing wrong and false information to the Income Tax Department which is not good.

Why IFSC code is required you must understand. This is for the purpose of your identification and also to facilitate the Income Tax Department as and when you fail to pay the tax and in that circumstances the IT Deptt. can just attach your account and recover their dues.

Other issues the expert has covered and it seems he is correct that when there is refund and if the code is wrongly mentioned and you have opted for direct credit then you are the looser as it will not be credited in your account.

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