New Delhi: The government has launched a new facility that will benefit taxpayers. NPCI has launched a new facility for verifying PAN and bank account details on the Income Tax e-filing website. This will help taxpayers quickly verify their information by linking their bank account on the Income Tax e-filing website.
NPCI has issued a circular in this regard, providing a wealth of information. A large number of people will be able to take advantage of this, so there will be no problem. What important information has been provided in the circular? You can find it in the article below.
NPCI gave big information
NPCI has issued a circular on this subject and shared a lot of information. According to the circular, its main objective is to facilitate real-time verification of PAN details, bank account status and account holder identity directly from the core banking system of the banks.
Through this, NPCI has now introduced a new PAN and Bank Account Verification Application Programming Interface. This has been specially designed for government departments. It is designed to provide real-time verification of bank account details and the account holder’s name directly from the bank’s core banking system.
Know the opinion of experts.
In this regard, Cyril Amarchand Mangaldas’s partner, Utkarsh Bhatnagar, informed the Economic Times that quick and real-time verification of the PAN bank account details of taxpayers accessing the income tax website will also be possible.
According to Bhatnagar, the new feature will enable an easy process for refunds directly. This increases the risk of fraud.