CBDT has made certain changes in ITR forms and disclosure requirements. Click here to know the changes in ITR forms (directly link with the article- whats new in ITR froms). From AY 2015-16, it has become mandatory for the taxpayers to provide the details of all the bank accounts held by them in India including the accounts with joint names.
You need to provide the following information with respect to bank accounts held in India:
- Bank name
- Bank account number
- Type of account-savings or current
- IFS code
- Number of bank accounts held by you in India from AY 2015-16.
- Names of Joint holders, if any
- All these details of all the accounts in India and which are operational since last three years are required to be disclosed
- Details of Dormant bank accounts (which are in-operational since last 3 years) are not required to be disclosed.
- Out of all the accounts held in India, choose a primary bank account in which, you wish your Income-tax refund to be deposited, if any.
While filing your Income-tax returns, make sure you have all these bank details ready with you. If you have already filed your returns but forgot to provide any of these bank details, you can revise your return after providing the correct bank details. All these disclosures are mandatory , do not forget to miss the same.