ITR Filing 2025: The National Payments Corporation of India (NPCI) has introduced a new feature to make the process of PAN and bank account verification easier and faster on the Income Tax e-Filing website. Its purpose is to make this process available for taxpayers and government departments in more comfortable and real time.
NPCI issued a circular stating that it has launched a new application programming interface (API). It will provide verification facility in real time for PAN details, bank account status and identification of account holder. This data will be verified directly from the banks’ core banking system (CBS).
The circular said, “This API will help government departments confirm the name of customers’ account details like PAN validation, account status and account holder with their bank’s CBS.”
API is a software bridge that allows two different systems to safely share data among themselves. In this case, it will allow government platforms such as API income tax portal to obtain verification data directly and safely from the internal system of banks.
NPCI has urged all members banks to apply this facility on priority basis, as this service is being made available to the Government of India.
What does this mean for taxpayers?
This new verification facility can have many benefits to taxpayers:
- The process of linking PAN and bank account will be accelerated.
- Verification will reduce the possibility of manual error.
- Refund and other tax payments will be available quickly and safely.
- The process of data verification will be more reliable and secure.
Also read: ITR Filing 2025: How is Tax on F & O Trading? From ITR form to audit, learn every question answer