Form 60: Who Should File, How to Fill & Download Form 60 Online

Form 60 is a declaration form submitted by a person (other than a company or firm) or a foreign company that doesn’t have a PAN and enters into any transaction specified in Rule 114B under section 139A of the Income Tax Act, 1961. There are certain transactions under which quoting of PAN number is mandatory so that the government can keep track of high-value transactions to curb black money in the country. 

However, there are individuals who have applied for PAN or do not have PAN. The absence of PAN may not have allowed many individuals to enter into transactions specified under Rule 114B of the Income Tax Act, 1961. For such individuals, Form 60 comes to the rescue. By filling out Form 60, individuals or a foreign company who do not have a PAN can enter into any transaction specified under Rule 114B of the Income Tax Act, 1961. 

What is Form 60?

Form 60 is a document to be filed by a person (not a company or firm) to carry out transactions specified in Rule 114B when they do not have a PAN either because:

• they have not applied for PAN or
• they have applied for PAN, but allotment is pending

Form 60 without applying for PAN is not acceptable if your total income (other than agriculture) is more than the basic exemption limit. In that case, you can use Form 60 only if you have applied for PAN, and you must also mention the date of application and acknowledgement number in column 22 of the form.

Format of Form 60

How to Download Form 60 in PDF?

One can get Form 60 of Income Tax from the official website of the Income Tax Department. One must follow the steps outlined below to download Form 60 pdf:

Step 1: Go to the official website of the Income Tax Department.

Step 2: From the top navigation menu, select “Forms/Download.”

Step 3: Select “Income Tax Forms” from the drop-down menu.

Step 4: You will be led to a page listing various income tax forms.

Step 5: Now select  “Form No.60.”

Step 6: Select the document. It will then be downloaded to your machine automatically.

Download Form 60 PDF from the Income Tax Portal

When to Submit Form 60?

In the following cases, it is mandatory to quote your PAN. Form 60 must be filed only if you do not have a PAN or you are awaiting PAN allotment.

Transaction Entered into by a Minor

If a minor enters into a transaction requiring a PAN, the PAN of the mother/ father/ guardian or Form 60 may be provided.

How and to Whom Can One Submit Form 60?

Declaration in Form 60 can be made either offline or online. It is to be submitted to the person with whom the transaction is being entered into.

Who Need Not Submit Form 60?

Non-residents are exempt from quoting of PAN/submission of Form 60 for a few of the transactions specified above, such as while applying for credit or debit cards, payment to restaurants or hotels against bills, etc. The Central Government, State Governments and the Consular Offices are also exempt from quoting PAN/ filing Form 60.

Documents to be Submitted With Form 60

A copy of the following documents needs to be submitted along with Form 60 only under a scenario where PAN has been applied for but allotment is pending. These documents serve as identity proof/address proof in the above mentioned scenario (b) i.e. where PAN is not applied for.

• Aadhar card
• Driving License
• Passport
• Ration Card
• ID proof from an accredited institution
• Copy of the electricity bill or telephone bill
• 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 certificate of registration issued by Charity Commissioner                           

Association of persons (other than Trusts)/Body of Individuals/Local authority/Artificial Juridical Person can provide the following documents:

• Copy of Agreement/copy of certificate of registration issued by Charity commissioner/Registrar of Cooperative society/any other competent authority/any other document originating from any Central or State Government Department establishing identity and address of such person

If the transaction is in the minor’s name, any of the documents mentioned above as proof of identity and address of any of the parents/guardians of such minor shall be deemed to be the proof of identity and address for the minor declarant and the declaration should be signed by the parent/guardian

In case of HUF any document in the name of Karta of HUF is needed

If the transaction is in the name of two or more persons the total number of persons and the total amount of the transaction should be mentioned in the form

Information Required to be Filled in the Form

The following information is required to be filled in Form 60:

• Full address and name of declarant
• Particulars related to the transaction for which you are filling the Form 60. For example, if the transaction is related to opening a savings account with the bank, you need to mention it in Form 60, stating the name of the bank and the transaction amount, too. If it is not applicable, then you must write N.A.
• In case you are assessed w.r.t income tax, mention the details of the range, circle or ward where you filed the last return of income.
• You must mention your reason for not having a PAN card. If you have applied for it and are yet to receive it, you must mention it in the form.

Also, note that a mismatch of the particulars with the supporting documents will cancel the form and require resubmission.

Consequences of Wrong Declaration

Making any false statement in Form 60 may attract these consequences:

• If the amount involved is less than Rs.25 lakh: imprisonment from three months to two years along with a fine can be imposed. 
• If the amount involved is greater than Rs.25 lakh: imprisonment from six months to seven years along with a fine can be imposed.

Read more related articles:

• Know your PAN
• How to apply for PAN
• Check PAN Card status online
• PAN Aadhar link
• PAN Card correction/update