BANK VALIDATION ERROR IN ITR FILING

Page no : 2

Karun Menon (602 Points)
Replied 13 August 2021

Post office savings Bank account does not have IFSC code, hence cannot be validated.

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Radha Rangarajan (4 Points)
Replied 13 August 2021

Originally posted by : Samantha J
	I said forget validation.But mention PO savings account in e-file returns form with out IFSC code as you don't have it chk with PO.

Can you please explain this?

J S BHAVSAR (CONSULTING) (1288 Points)
Replied 13 August 2021

Originally posted by : Karun Menon
	Details- state bank of India (PPF) Account, remark -account blocked, validation done in 2018.Axis Bank remark - Account closed, validation failed in 2016. These accounts cannot be revalidated as they don't exist nor removed as it's not validated. I have not attempted to validated them.

Is PPF account also becomes part of bank accounts to be declared?

J S BHAVSAR (CONSULTING) (1288 Points)
Replied 13 August 2021

Originally posted by : Karun Menon
	Post office savings Bank account does not have IFSC code, hence cannot be validated.

Should such accounts be deleted from the Profile / ITR return and then submitted?

Karun Menon (602 Points)
Replied 14 August 2021

@ Bhavsar, once I received refund in this account and that is how it was picked up as failed account. That is the reason for Account Blocked remark. even Axis was not validated by me it was closed in 2016 much before validation started. I used to receive refund in Axis too.

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prasad (chartered accountant) (27 Points)
Replied 14 August 2021

where Bank account does not get validated Assessee Needs to upload ECS Mandate. But format of ECS mandate is not in Site nor does the site mention in which portion of the site this mandate has to be uploaded.

Karun Menon (602 Points)
Replied 14 August 2021

ECS mandate form is issued by Bank, it's normally issued when you have to give standing instructions. don't know whether banks will certify ECS form without any mandate.

J S BHAVSAR (CONSULTING) (1288 Points)
Replied 15 August 2021

If all bank accounts are not getting validated then such accounts will have to be deleted before 28th Sep 2021 to timely file the tax return to avoid penalty. If the invalidated bank account is not declared in the ITR form for 2021, then the return could be declared faulty by the CPC / Income Tax Department / AO.

1 Like

Karun Menon (602 Points)
Replied 15 August 2021

@ Bhavsar, can you kindly elaborate. Only validated account can be removed. If for some reason the account is not getting validated, it has to be revalidated. Even if the account is deleted how can the same be declared in the ITR?

RAMESH DESAI (2 Points)
Replied 14 December 2021

The portal is useless. Government is fooling people. IT Paying people are doomed in India. IT Evading people are enjoying and purchasing farm houses and big cars. Even the portal does not work. There are bank accounts which are validated and still it throws error related to bank acoc*nt.