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Jul 29, 2023 · One of the most common Refund failure is ERROR 155 which can be seen in most of the individuals’ Dashboard. The major reason for ERROR 155 is Incorrect bank details (MICR code, account no, IFSC code, name mismatch etc.) Account holder KYC is pending.
If you have received an intimation from Income Tax Department or Refund Banker (SBI) that the processing of refund has failed, you can submit a Refund Reissue Request on the e-Filing portal. With refund reissue request service, taxpayer can raise request in e-Filing portal for re-issuance of refund. 2.
Mar 29, 2020 · 1. Expired Cheque. Your refund cheque has been expired. You are requested to apply for refund reissue to claim your refund. The refund reissue can be applied through online by following the procedure. 2. Incorrect A/C No. The account number provided by you was incorrect.
Oct 19, 2023 · My refund failed with reason is 155. What can I do. Ans: Please check if bank account is validated and available for refund (not restricted). Also check if any old demand is outstanding....
Mar 9, 2023 · Today, we learn the provisions of section 155 of Income-tax Act 1961 as amended by the Finance Act 2022. The amended provision of section 155 is effective for financial year 2022-23 relevant to the assessment year 2023-24.
Other reasons of refund failure: In addition to above, a refund from the Income Tax Department scheduled to be paid may fail to get credited to your bank account for the following reasons: 1. In case the bank account is not pre-validated. It is now compulsory to pre-validate your bank account. 2.
Jun 17, 2024 · To reissue a failed income tax refund, log in to the tax e-filing portal and submit a Refund Reissue Request. Common reasons for refund failure include unvalidated bank accounts, name mismatch, invalid IFSC code, or closed accounts. Pre-validate your bank account by logging in, selecting 'Bank Account', and checking for validation.
