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Form 60: Why You Need It and How to Download It in PDF


Form 60 Download PDF: Everything You Need to Know




If you do not have a Permanent Account Number (PAN), you may need to fill and submit Form 60 for certain transactions. Form 60 is a declaration form that helps the Income Tax Department to track high-value transactions and prevent tax evasion. In this article, we will tell you everything you need to know about Form 60, including what it is, why you need it, how to download it, how to fill it, and what are the consequences of not submitting it.


What is Form 60 and why do you need it?




Form 60 is a declaration form that is required to be filed by a person who does not have a PAN and who enters into any transaction specified in rule 114B of the Income Tax Rules, 1962. Rule 114B lists various transactions for which quoting of PAN is mandatory, such as opening a bank account, applying for a credit card, buying or selling a vehicle, depositing cash above a certain limit, etc. If you do not have a PAN and you want to enter into any of these transactions, you need to fill and submit Form 60.




form 60 download pdf



Form 60 is a declaration form for those who do not have a PAN




Form 60 is meant for those who do not have a PAN and who are not eligible to obtain one. For example, if you are an agriculturist whose income is not taxable, or if you are a non-resident who does not have any taxable income in India, you may not have a PAN. In such cases, you can use Form 60 as an alternative to PAN for certain transactions.


Form 60 is required for certain transactions specified in rule 114B of the Income Tax Rules




Rule 114B of the Income Tax Rules specifies various transactions for which quoting of PAN is mandatory. Some of these transactions are:


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  • Opening a bank account or a demat account



  • Applying for a credit card or a debit card



  • Buying or selling a vehicle other than a two-wheeler



  • Depositing cash exceeding Rs.50,000 in a day in a bank or a post office



  • Paying hotel bills exceeding Rs.50,000 at any one time



  • Paying life insurance premium exceeding Rs.50,000 in a year



  • Buying or selling immovable property valued at Rs.10 lakh or more



  • Buying or selling shares, debentures, bonds, mutual funds, etc. exceeding Rs.1 lakh in value



  • Buying or selling goods or services exceeding Rs.2 lakh per transaction



  • Paying educational fees exceeding Rs.1 lakh per annum



  • Paying rent exceeding Rs.50,000 per month



  • Paying electricity bills exceeding Rs.1 lakh per annum



Paying telephone bills exceeding Rs.20,000 per annumIf you do not have a PAN and you want to enter into any of these transactions, you need to fill and submit Form 60 to the person who is accepting the transaction. For example, if you want to open a bank account without a PAN, you need to submit Form 60 to the bank along with other documents.


Form 60 helps the Income Tax Department to track high-value transactions and prevent tax evasion




Form 60 is not just a substitute for PAN, but also a tool for the Income Tax Department to track high-value transactions and prevent tax evasion. By filling Form 60, you are declaring your identity, address, estimated income, and the details of the transaction. This information helps the Income Tax Department to verify your tax compliance and detect any suspicious or fraudulent activities. If you do not submit Form 60 when required, you may face penalty or scrutiny from the Income Tax Department.


How to download Form 60 PDF online?




If you need to fill and submit Form 60, you can download the PDF version of the form online from various sources. Here are some of the ways to download Form 60 PDF online:


You can download Form 60 PDF from the official website of the Income Tax Department or other sources




The easiest way to download Form 60 PDF is to visit the official website of the Income Tax Department at , but make sure that they are updated and authentic.


You can also fill and submit Form 60 online using the e-filing portal of the Income Tax Department




If you do not want to download and print Form 60 PDF, you can also fill and submit it online using the e-filing portal of the Income Tax Department at . To do this, you need to register yourself on the portal using your Aadhaar number or mobile number. After logging in, you need to go to "e-File" and select "Submit Forms Other than ITR". Then, you need to choose "Form 60" from the drop-down menu and fill in the required details. After verifying and submitting the form, you will get a confirmation message and an acknowledgement number. You can also print or save a copy of the form for your records.


How to fill Form 60 PDF offline?




If you prefer to fill Form 60 PDF offline, you need to follow these steps:


You need to provide your personal details, transaction details, and estimated income in Form 60




Form 60 has two parts: Part A and Part B. In Part A, you need to provide your personal details such as name, address, date of birth, gender, Aadhaar number (if any), etc. In Part B, you need to provide the details of the transaction for which you are submitting Form 60, such as nature and value of transaction, mode of payment, name and address of the person who is accepting the transaction, etc. You also need to provide your estimated income from various sources for the current financial year.


You need to sign and date Form 60 and submit it to the person who is accepting the transaction




After filling in all the details in Form 60, you need to sign and date it at the bottom. You also need to mention whether you are signing it yourself or on behalf of someone else. You then need to submit Form 60 along with other documents (such as identity proof, address proof, etc.) to the person who is accepting the transaction. For example, if you are opening a bank account without a PAN, you need to submit Form 60 along with your KYC documents to the bank.


You need to keep a copy of Form 60 for your records




It is advisable that you keep a copy of Form 60 for your records in case of any future reference or verification. You can either print or save a copy of Form 60 when you download or fill it online, or ask for a copy when you submit it offline. You should also keep a record of the transaction details for which you have submitted Form 60, such as date, amount, mode, etc.


What are the consequences of not submitting Form 60?




If you do not submit Form 60 when required, you may face the following consequences:


You may face penalty or rejection of your transaction if you do not submit Form 60 when required




If you do not submit Form 60 when required, the person who is accepting the transaction may refuse to process it or may impose a penalty on you. For example, if you do not submit Form 60 when opening a bank account without a PAN, the bank may reject your application or charge you a higher interest rate. Similarly, if you do not submit Form 60 when buying or selling a property without a PAN, the registrar may levy a penalty of Rs.10,000 on you under section 272B of the Income Tax Act.


You may also attract scrutiny or notice from the Income Tax Department if you do not submit Form 60 when required




If you do not submit Form 60 when required, you may also attract scrutiny or notice from the Income Tax Department. The Income Tax Department may ask you to explain the source and nature of your income and the reason for not having a PAN. If you fail to provide s


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