Big Relief for Taxpayers!
In a welcome move, the National Payments Corporation of India (NPCI) has launched a brand-new feature that makes verifying and linking your PAN card with your bank account much simpler and faster. This service is now active on the Income Tax Department’s official e-filing portal. The goal is to make the verification process real-time, more seamless, and secure for both parties.
What’s in the NPCI Circular?
According to the circular issued by NPCI, this facility is designed to remove delays and errors during verification. It uses a real-time interface that pulls key details like PAN number, account status, and account holder’s name straight from a bank’s Core Banking System (CBS). That means no more waiting or manual checks.
To make it all work, NPCI has rolled out a special Application Programming Interface (API) exclusively for government use. This API is wired directly into the banks’ systems, making it much harder for fraud to slip through.
Utkarsh Bhatnagar, a legal expert from Cyril Amarchand Mangaldas, told the Economic Times that this real-time verification feature will speed up tasks on the income tax website.It will facilitate quicker refunds and smoother payments with no hiccups owing to mistakes or stale data.
How This Helps You
When your bank account and PAN are connected and authenticated in mere seconds, your income tax refund shall reach your account sooner than ever before. No more delays, no more guesswork.
Also, fewer errors mean fewer rejections or notices from the IT department. And on top of that, the new system will discourage fraudulent claims and fake identities. It introduces an added layer of security, which can only be good.
That said, banks will now have to upgrade their systems to meet the new safety and compatibility standards set by NPCI.
New Excel ITR Filing Option
That’s not all. The Income Tax Department has also made another small but useful change. For the assessment year 2025-26, taxpayers filing ITR-1 or ITR-4 can now use Excel utility to file their returns. That’s handy for those who prefer offline work before uploading the final form.
One more thing, the deadline for filing ITR-1 and ITR-4 has been extended. Instead of 31st July, you now have until 15th September to get it done. A sigh of relief for many!
Bottom Line
With NPCI’s real-time PAN-bank verification and Excel tools from the Income Tax Department, taxpayers now have fewer headaches and more time. It’s a small digital leap that could save millions of people a lot of effort.
