PAN-bank link on income tax website: NPCI enables real-time verification via API; faster refunds, fewer errors expected

NPCI introduced a real-time PAN and bank account validation facility on the Income Tax e-filing website via a new API, as announced on June 17, 2025. This initiative aims to streamline verification, ensuring secure and faster processing of income tax refunds and direct benefit transfers. Banks are urged to prioritize system upgrades to support this service.

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