Why does ClearTax make MICR code compulsory for Income Tax Return filing?

MICR code is a compulsory field while filing income tax returns at ClearTax.

Why is this so?

The Income Tax Department has indicated in various forums that assesses who specify their MICR code get their refunds faster than those who don’t. We want our customers to get their refunds as soon as possible. So we have made it compulsory for you to specify your MICR code when you e-file with us.

How do I find my MICR code?

MICR code is present on the white strip at the bottom of every cheque of your cheque-book. Its a 9 digit number. On the white strip: First there’s the cheque number and then the MICR code. MICR code is identical on all cheques.

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