A new disclosure with respect to bank accounts has been added in the income tax return forms for AY 2015-16.
As of now ITR-1, ITR-2, ITR-2A and ITR-4S have been notified by the income tax department for income tax return e-filing.
Here we list down the information which has been asked for bank account information –
- Total number of bank accounts both savings account and current account held by you at anytime during 1st April 2014 to 31st March 2015.
- It is not compulsory to provide details of accounts which are dormant. For this purpose any accounts which have been in-operational for the past 3 years are considered as dormant.
- Provide IFSC Code of the Bank – You should be able to find it in the cheque book of the bank where you have an account or online with the bank.
- Name of the Bank – Automatically populates the name of the bank when you enter its IFSC code.
- Account Number – Your bank account number has to be provided. This must be a 9 or more digits number.
- Mention whether the account is a savings account or a current account
- Select the account where you want to receive refund of tax – You have to select the account where you would like refund to be credited irrespective of whether you have a refund due or not in your income tax return.