Bank Account – Details of Bank Accounts

This schedule requires the assessee to provide details of all bank accounts held in India at any time during the previous year, excluding dormant accounts. It is mandatory to report all active accounts, and at least one account must be selected for receiving any income tax refund, if applicable. For each bank account, the assessee must furnish the IFS code, bank name, account number, and account type. In cases where multiple bank accounts are selected for refund credit, the refund will be deposited into one of the validated accounts after processing.

Additionally, non-resident individuals who do not have a bank account in India may optionally provide the details of a foreign bank account (such as SWIFT code, IBAN, and bank name) for refund purposes. Further, residents must answer whether they held any foreign asset, had signing authority in a foreign account, or earned income from sources outside India during the year. If the answer is "Yes," Schedule FA (Foreign Assets) must also be filed with the return.

This schedule applies to ITR-2 to ITR-7, with the required bank account details varying based on the specific ITR form. In the case of ITR-1, bank account information is furnished under the section titled “Part E – Other Information.”