On 24th January 2007, a scheme was inaugurated named 'Refund Banker Scheme,' that becomes operational for the taxpayers of non-corporate sectors that were evaluated in cities like Mumbai, Delhi, Kolkata, Bangalore, Ahmedabad, Chennai, Bhubaneswar, Allahabad, Chandigarh, Patna, Pune, Hyderabad, Trivandrum, Cochin, and Kanpur. CPC Bangalore or assessing officer generate the refunds on income tax return process according to this scheme and that was transferred to the State Bank of India, branch CMP of Mumbai in order to distribute to taxpayers on the day next of processing.
Refunds are being sent in following two modes:
- RTGS / NECS: In order to get the refund credit to the account in the bank, it is mandatory to have a/c of bank of taxpayer along with the bank branch MICR code, and accurate communication address.
- Paper Cheque: Accurate address and bank account no. is compulsory.
After the assessing officer sent the refund to the Refund Banker providing Assessment Year and PAN below then only status of refund can be viewed by the taxpayers within time period of 10 days.
Taxpayer can also viewed the refund status other than the refund paid by the refund banker through entering the year of assessment and PAN on the website www.tin-nsdl.com.
In the statements of tax credit given in Form 26AS also, the status of paid refund can be viewed.
To track the refund status, please enter your Assessment Year and Permanent Account Number.