Saturday, November 20, 2010

How to update MICR details with Income tax dept.?

At the time of filing the IT return online, last year, I gave bank details to get the refund. Details included account number, MICR code of the branch, address etc. Now I have got my account transferred to other branch in different city but in same bank. There is no change in the account number after transferring the account to different city.

Q-1 Where will the refund come now?

Q-2 Do I need to update MICR code with IT Dept.? If yes, Where and whom to approach?



Please reply ASAP. Thanks in advance...How to update MICR details with Income tax dept.?
MICR code is must when you have given option to transfer your refund directly to your bank account otherwise only bank account no is sufficiant. System of direct transfer of redund to bank account is not operative in all cities. Please check whether your city is covered or not. In case refund is send to you in hard copy it will be posted to your address as per PAN data. You may update your MICR code (if required) by writing an application to jurisdictional ITO in this regard.How to update MICR details with Income tax dept.?
For this kind of problems there is no answer with the income tax department. They do not bother. There is no facility to change the bank MICR at any web site. You have to approach the concerned ITO and give a letter to him. I do not think that they care and do the needful updating .



Refund should come back in one or two months to the tax payers and it should not take years .



Anyway check up your refund status:



https://tin.tin.nsdl.com/oltas/refundsta

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