Real Time PAN Bank Account Linking Goes Live on Income Tax Portal

Special Correspondent, Delhi-

In a major stride toward seamless taxpayer services, the National Payments Corporation of India (NPCI) has activated real time PAN and bank account linking on the Income Tax Department's e filing portal. The new system allows for instant validation of bank details via Core Banking System (CBS), promising faster tax refund processing and better compliance.

Until now, mismatches between PAN records and bank accounts often delayed refunds or led to failed credit attempts. The upgraded system allows taxpayers to link and verify their accounts instantly, ensuring their refund is routed securely and without manual interventions.

Chartered accountants and fintech experts have lauded the move as “a digital governance milestone,” adding that it also helps curb fraudulent filings and improves transparency in financial administration. The feature is expected to benefit over 7 crore individual taxpayers during the FY 2024–25 assessment cycle.