What is Form No. 60 and How to Download It?
If you do not have a Permanent Account Number (PAN) but want to enter into certain financial transactions, you may need to submit a declaration in Form No. 60. In this article, we will explain what is Form No. 60, how to fill it, how to download it, and how it differs from Form No. 61.
Introduction
Form No. 60 is a declaration form that is submitted by an individual or a person (not being a company or a firm) who does not have a PAN and who enters into any transaction specified in Rule 114B of the Income Tax Rules, 1962. The declaration is required as per Section 139A of the Income Tax Act, 1961.
form no. 60 download
Download Zip: https://urllio.com/2vwL1Z
Some of the transactions that require PAN or Form No. 60 are:
Opening a bank account or a demat account
Purchasing or selling a motor vehicle (other than two-wheelers)
Purchasing or selling an immovable property valued at Rs. 10 lakh or more
Making a cash payment of Rs. 50,000 or more to a hotel or a restaurant
Making a cash payment of Rs. 50,000 or more for travel to a foreign country or for buying foreign currency
Paying a life insurance premium of Rs. 50,000 or more in a year
Making a deposit of Rs. 50,000 or more in cash in a bank, post office, NBFC, Nidhi company, etc.
Buying mutual funds, bonds, debentures, or RBI bonds of Rs. 50,000 or more
Buying or selling shares or securities of Rs. 1 lakh or more per transaction
If you do not have a PAN and your income (other than agricultural income) is below the basic exemption limit, you can use Form No. 60 instead of PAN for these transactions. However, if you have applied for PAN and it is not yet generated, you have to mention the date of application and the acknowledgement number in Form No. 60.
How to Fill Form No. 60
Form No. 60 has two parts: Part A and Part B. Part A contains the details of the transaction for which the declaration is being made, such as the nature and value of the transaction, the name and address of the person with whom the transaction is made, etc. Part B contains the personal details of the declarant, such as name, address, date of birth, gender, Aadhaar number (if any), etc.
The following details are required to fill Form No. 60:
The nature and value of the transaction
The name and address of the person with whom the transaction is made
The date of the transaction
The name and address of the declarant
The date of birth of the declarant
The gender of the declarant
The Aadhaar number (if any) of the declarant The address of the employer or the address of the business or profession of the declarant
The estimated total income (including agricultural income and income of spouse, minor child, etc.) for the financial year in which the transaction is made
The reason for not having a PAN
The signature or thumb impression of the declarant
Along with Form No. 60, the declarant has to attach a copy of any one of the following documents as proof of identity and address:
Aadhaar card
Driving license
Passport
Voter ID card
NREGA job card
Any other document notified by the Central Government
How to Download Form No. 60
Form No. 60 can be downloaded from the official website of the Income Tax Department. To download the PDF version of Form No. 60, follow these steps:
form no. 60 pdf download
form no. 60 fillable format download
form no. 60 income tax download
form no. 60 for bank account download
form no. 60 for pan card download
form no. 60 online download
form no. 60 declaration download
form no. 60 in word format download
form no. 60 for post office download
form no. 60 for mutual fund download
form no. 60 for property purchase download
form no. 60 for cash deposit download
form no. 60 for hotel booking download
form no. 60 for foreign exchange download
form no. 60 for share transfer download
form no. 60 for insurance policy download
form no. 60 for credit card download
form no. 60 for demat account download
form no. 60 for loan application download
form no. 60 for fixed deposit download
form no. 60 for sale of vehicle download
form no. 60 for rent agreement download
form no. 60 for jewellery purchase download
form no. 60 for locker facility download
form no. 60 for electricity connection download
form no. 60 for telephone connection download
form no. 60 for gas connection download
form no. 60 for school admission download
form no. 60 for hospital admission download
form no. 60 for travel ticket booking download
form no. 60 for payment of tax download
form no. 60 for refund of tax download
form no. 60 for filing of return download
form no. 60 for assessment of income download
form no. 60 for appeal to CIT(A) download
form no. 60 for appeal to ITAT download
form no. 60 for revision petition to CBDT download
form no. 60 for rectification of mistake download
form no. 60 for settlement commission application download
form no. 60 for advance ruling application download
form no. 60 for search and seizure operation download
form no. 60 for survey under section 133A download
form no. 60 for requisition under section 132A download
form no. 60 for notice under section 142(1) download
form no. 60 for notice under section 148 download
form no. 60 for notice under section 153A/153C download
Go to the Income Tax Department's official website.
From the top navigation menu, choose "Forms/Download".
Select "Income Tax Forms" from the drop-down menu.
You will be redirected to a page with a list of different forms for income tax.
Scroll down the list until you reach "Form No.60".
Select the form, and it will be downloaded to your PC automatically.
You can also download Form No. 60 from other sources, such as banks, post offices, NBFCs, Nidhi companies, etc., that require you to submit Form No. 60 for certain transactions. However, make sure that you download the latest version of Form No. 60 that is updated as per the Income Tax Rules.
How to Print and Submit Form No. 60 Offline
After downloading Form No. 60, you can print it and fill it manually with a pen. Alternatively, you can fill it online using a PDF editor and then print it. Make sure that you fill all the details correctly and legibly in Form No. 60. You also have to attach a copy of your proof of identity and address with Form No. 60.
You can submit Form No. 60 offline to the person or entity with whom you are entering into the transaction that requires PAN or Form No. 60. For example, if you are opening a bank account without PAN, you can submit Form No. 60 to the bank branch where you are opening the account. Similarly, if you are buying or selling a motor vehicle without PAN, you can submit Form No. 60 to the dealer or the transport authority where you are registering the vehicle.
Difference Between Form No. 60 and Form No. 61
Form No. 61 is another declaration form that is submitted by an individual who has only agricultural income or income from employment that is not taxable under the Income Tax Act. Form No. 61 is also a statement of particulars of declarations received in Form No. 60 by certain persons or entities who are required to report them to the Income Tax Department.
The difference between Form No. 60 and Form No. 61 are as follows:
Form No. 60Form No. 61
It is submitted by an individual or a person (not being a company or a firm) who does not have a PAN and who enters into any transaction specified in Rule 114B.It is submitted by an individual who has only agricultural income or income from employment that is not taxable under the Income Tax Act.
It is submitted to the person or entity with whom the transaction is made.It is submitted to the Income Tax Department by certain persons or entities who receive declarations in Form No. 60.
It contains two parts: Part A and Part B.It contains only one part.
It requires proof of identity and address to be attached.It does not require any proof to be attached.
It has to be submitted within a specified time limit depending on the nature of transaction.It has to be submitted quarterly by certain persons or entities within fifteen days from the end of each quarter.
Conclusion
In this article, we have explained what is Form No. 60, how to fill it, how to download it, and how it differs from Form No. 61. We have also provided a table to compare the two forms and a list of transactions that require PAN or Form No. 60. We hope that this article has helped you understand the purpose and process of using Form No. 60.
Some tips or suggestions for using Form No. 60 are:
Make sure that you fill all the details correctly and legibly in Form No. 60.
Attach a copy of your proof of identity and address with Form No. 60.
Submit Form No. 60 within the specified time limit depending on the nature of transaction.
Keep a copy of Form No. 60 for your reference and record.
Apply for PAN as soon as possible if you do not have one.
FAQs
Here are some common questions and answers related to Form No. 60:
Q: Can I use Form No. 60 for income tax return filing?
A: No, you cannot use Form No. 60 for income tax return filing. You need to have a PAN for filing your income tax return.
Q: Can I use Form No. 60 for opening a bank account online?
A: Yes, you can use Form No. 60 for opening a bank account online if you do not have a PAN and your income is below the basic exemption limit. However, you will have to submit the physical copy of Form No. 60 along with your proof of identity and address to the bank branch within a stipulated period.
Q: Can I use Aadhaar number instead of PAN or Form No. 60?
A: Yes, you can use Aadhaar number instead of PAN or Form No. 60 for certain transactions if you have linked your Aadhaar with your PAN. However, if you do not have a PAN, you will still have to submit Form No. 60 along with your Aadhaar number.
Q: What are the consequences of not submitting PAN or Form No. 60?
A: If you do not submit PAN or Form No. 60 for the transactions specified in Rule 114B, you may face the following consequences:
The person or entity with whom you are entering into the transaction may not accept or process your request.
You may have to pay higher tax deducted at source (TDS) or tax collected at source (TCS) rates on your income or receipts.
You may receive notices or penalties from the Income Tax Department for non-compliance.
Q: How can I check the status of my PAN application?
A: If you have applied for PAN and it is not yet generated, you can check the status of your PAN application online by visiting the official website of NSDL or UTIITSL (depending on where you have applied) and entering your acknowledgement number, name, and date of birth. 44f88ac181