Submitting form 60/61 instead of PAN

At the time of entering into certain specified transactions, PAN Card No. is mandatorily required to be submitted. In case a person does not have a PAN Card No., he can submit a declaration in Form 60/Form 61.

Transactions where PAN No is mandatorily required to be furnished

As per Rule 114B, PAN Card No. is mandatory required to be furnished at the time of entering into the following:-

1. Sale or purchase of any immovable property exceeding Rs. 5,00,000
2. Sale or purchase of any vehicle (excl two-wheelers)
3. Any FD exceeding Rs. 50,000 with any Bank
4. Any Fixed Deposit exceeding Rs. 50,000 with Post Office
5. Contract exceeding Rs. 10,00,000 for sale/purchase of specified securities
6. Opening a Bank Account
7. Making an application for installation of a telephone connection
8. Payment to Hotels and Restaurants for a payment exceeding Rs. 25,000

Submission of Form 60/ Form 61

In case a person who enters into any of the aforesaid transactions does not have a PAN Card, he shall file a declaration in Form 60/Form 61.

Form 60 is required to be filed in cases where a person enters into any of the transactions mentioned above but does not have a PAN card. (Download Form 60)

Form 61 is required to be furnished in case a person who has agricultural income and is not in receipt of any other income chargeable to income tax.

Procedure for furnishing Form 60/ Form 61

Several details are required to be furnished in Form 60/ Form 61. Some of these include the name of the person furnishing such declaration, details of the transaction entered into, the amount of transaction etc.

In Form 60, you would also be required to mention whether you’ve been assessed to tax earlier. And in case you’ve been assessed to tax earlier, you would also be required to mention the Details of the Income Tax Ward/Circle No/Range where the last return was filed and also the reason for not having a PAN Card.

Self attested copy of documents for address proof would also be required to be submitted along with Form 60 & Form 61. The documents which are counted as valid address proof are as follows:-

1. Ration Card
2. Passport
3. Driving License
4. Identity Card issued by any institution
5. Copy of the electricity bill or telephone bill showing the residential address
6. Any document or communication issued by Central/State Govt or any Local Authority showing the residential address
7. Any other document in support of the his address given in the declaration