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What is Form 60- Rules, Process, and applicability?

Form 60:

Here is a comprehensive guide on Form 60. Its requirement and applicability. How to download form 60 and process to fill the same in detail. Form 60 is a self-declaration form to be filed by an individual or a person (excluding a company or firm) who does not have a PAN and who enters into any transaction specified in rule 114B.

Obtaining PAN is mandatory for a particular category of persons as per the provisions of the Income Tax Act.

It is also necessary to quote PAN in various documents and financial transactions i.e., ITRs, any correspondence with the Income tax department, documents pertaining to certain transactions such as the sale and purchase of assets (movable and immovable), etc. 

Although it is necessary to have a PAN. There may be instances where individuals do not PAN. If an individual does not have a PAN, they must submit PAN Form 60 to apply for a new pan card to carry out all the financial transactions and activities.

Update your PAN or form  No. 60 in bank
Know Your Customer – KYC Rules

What is Form 60?

Form 60 is a self-declaration form, where a person not having a PAN declares that he/ she does not have a PAN card.

Form 60 is a document that allows people who do not have a Permanent Account Number (PAN) to carry out certain financial transactions in India.

PAN is a unique 10-digit alphanumeric code issued by the Income Tax department to track financial activities, like paying taxes and making large transactions.

However, some individuals may not have a PAN because they may not be eligible for it or haven’t applied for one yet. In such cases, they can use Form 60 as an alternative. It’s like a declaration form that provides basic information about the person and the reason they don’t have a PAN.

A person furnishing Form 60 needs to mention a few details such as: address along with a valid address proof, status of income tax assessment, and reason for not having a PAN.

Form No. 60, can be downloaded online from the website of the scheduled banks or the post office. You may also visit your bank branch/post office in person. Fill in, furnish the required details and submit the same.

How to download Form 60?

PAN Form No. 60, can be downloaded online from the Income Tax India website or portal.

Here’s a simple process to download the Form 60:

Downloading Form 60:

Visit the Income Tax Department’s official website – www.incometaxindia.gov.in

Navigate to the “Forms/Downloads” section on the website.

Search for “Form 60” in the list of available forms.

Select the” Form 60 pdf form or Fillable form” as required

Download the form in PDF format to your computer or mobile device.

How to fill out the PAN Form 60?

  1. Filling Out Form 60:
    • Open the downloaded PDF form using a PDF reader application (e.g., Adobe Acrobat Reader).
    • Print the form on an A4 size paper.
  2. Provide Personal Information:
    • Fill in your name, address, date of birth, and occupation in the respective fields.
  3. Reason for Not Having PAN:
    • Indicate the reason why you do not have a PAN by selecting the appropriate option from the list provided on the form.
  4. Declaration:
    • Review the information you’ve provided and make sure it’s accurate and truthful.
    • Sign the form in the designated space. If the form is being filled for and on behalf of another person, it should also contain the signature or thumb impression of that person.
  5. Attach Supporting Documents:
    • Depending on the reason you state for not having a PAN, you might need to attach supporting documents as specified in the form.
  6. Submit the Form:
    • Once you have filled out and signed the form, submit it to the concerned bank or financial institution where you are conducting the transaction.
    • They will process the form and proceed with the relevant financial transaction after verifying the information provided.

If you have any doubts or questions, reach us through Contact section. You may also consult with a tax consultant or a representative at the bank or financial institution where you plan to use the form.

Supporting documents are to be submitted with Form 60

A copy of the following documents that can be produced along with Form 60 in support of identity and address (not required if applied for PAN but allotment is pending):

In the case of Individuals

  • Aadhar card
  • Driving License
  • Passport
  • Ration Card
  • ID proof from an accredited institution
  • Copy of the electricity bill or telephone bill
  • Bank Account Statement (Not more than 3 months old)
  • Property tax payment receipt (Not more than one-year-old)
  • Consumer gas card/book or piped gas bill (Not more than 3 months old)
  • Any document issued by Central Government, State Government, or any local bodies.
  • Any documentary proof related to the address mentioned in the form.

If PAN is applied for and allotment is pending, only the date of application would suffice.

For Association of Persons (Trusts)

  • Copy of trust deed or
  • copy of the certificate of registration issued by Charity Commissioner

How to Apply for a PAN card online in India?

Transactions where Quoting of PAN is mandatory

About Shubham Anand

Shubham Anand, the founder of TaxWinner.in, is a Chartered accountant, law graduate and personal finance & technology enthusiast. He loves writing about taxes, personal finance, tax planning, the latest technology, and much more. With a passion for technology and the intricacies of personal finance, he believes that financial literacy is the ultimate life hack.

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