ITR Filing 2025: NPCI has launched a new facility to make ITR filing easier. This will allow real-time verification of PAN and bank account. Taxpayers will get the facility of faster refund and secure verification.
ITR Filing 2025: The National Payments Corporation of India (NPCI) has launched a new facility on the income tax e-filing website to make the process of PAN and bank account verification easier and faster. Its aim is to make this process more seamless and available in real time for taxpayers and government departments.
NPCI issued a circular stating that it has launched a new Application Programming Interface (API). It will facilitate real-time verification of PAN details, bank account status and account holder identity. This data will be verified directly from the Core Banking System (CBS) of banks.
The circular said, “This API will help government departments to verify the account details of customers such as PAN validation, account status and name of the account holder from the CBS of their bank.”
What is an API?
An API is a software bridge that allows two different systems to share data securely. In this case, this API will allow government platforms like the Income Tax portal to receive verification data directly and securely from the internal systems of banks.
NPCI has urged all member banks to implement this facility on priority basis as this service is being provided to the Government of India.
What does this mean for taxpayers?
This new verification facility can bring several benefits to taxpayers:
- The process of linking PAN and bank account will be faster.
- The chances of manual error in verification will be reduced.
- Refunds and other tax payments will be received quickly and securely.
- The process of data verification will be more reliable and secure.
