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.
form 60 download pdf
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 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:
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 declaration pdf download
form 60 income tax pdf download
form 60 for pan card pdf download
form 60 sbi pdf download
form 60 for bank account pdf download
form 60 for post office pdf download
form 60 fillable pdf download
form 60 online pdf download
form 60 for kyc pdf download
form 60 for mutual fund pdf download
form 60 for demat account pdf download
form 60 for insurance pdf download
form 60 for loan pdf download
form 60 for property purchase pdf download
form 60 for fixed deposit pdf download
form 60 for cash deposit pdf download
form 60 for credit card pdf download
form 60 for share transfer pdf download
form 60 for gold purchase pdf download
form 60 for foreign exchange pdf download
form 60 for hotel booking pdf download
form 60 for rent agreement pdf download
form 60 for vehicle registration pdf download
form 60 for driving licence pdf download
form 60 for passport application pdf download
form 60 for voter id card pdf download
form 60 for aadhaar card pdf download
form 60 for electricity connection pdf download
form 60 for gas connection pdf download
form 60 for water connection pdf download
form 60 for telephone connection pdf download
form 60 for internet connection pdf download
form 60 for cable tv connection pdf download
form 60 for school admission pdf download
form 60 for college admission pdf download
form 60 for university admission pdf download
form 60 for scholarship application pdf download
form 60 for job application pdf download
form 60 for visa application pdf download
form 60 for travel booking pdf download
form 60 for medical treatment pdf download
form 60 for hospital admission pdf download
form 60 for surgery consent pdf download
form 60 for organ donation pdf download
form 60 for blood donation pdf download
form 60 for charity donation pdf download
form 60 for gift deed pdf download
form 60 for will execution pdf download
form 60 for trust registration pdf download
form 60 for ngo registration pdf download
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 satisfactory answers, you may face further action such as assessment, penalty, prosecution, or even attachment of your assets. Therefore, it is advisable that you submit Form 60 whenever required and comply with the tax laws.
Conclusion
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. Form 60 helps the Income Tax Department to track high-value transactions and prevent tax evasion. You can download Form 60 PDF online from various sources or fill and submit it online using the e-filing portal of the Income Tax Department. You can also fill Form 60 PDF offline and submit it to the person who is accepting the transaction. You need to provide your personal details, transaction details, and estimated income in Form 60 and sign and date it. You need to keep a copy of Form 60 for your records. If you do not submit Form 60 when required, you may face penalty or rejection of your transaction or scrutiny or notice from the Income Tax Department.
Here are some FAQs that may help you understand Form 60 better:
Q1. Can I use Form 61 instead of Form 60?
A1. No, Form 61 is different from Form 60. Form 61 is a declaration form that is required to be filed by a person who has an agricultural income and who receives any sum or income on which tax has been deducted at source (TDS). Form 61 is not a substitute for PAN and cannot be used for transactions specified in rule 114B.
Q2. How many times can I use Form 60?
A2. You can use Form 60 as many times as you need to enter into transactions specified in rule 114B without a PAN. However, you should try to obtain a PAN as soon as possible as it will make your financial transactions easier and more transparent.
Q3. Do I need to attach any documents with Form 60?
A3. Yes, you need to attach proof of identity and address with Form 60 such as Aadhaar card, voter ID card, driving license, passport, etc. You may also need to attach other documents depending on the nature of the transaction such as property papers, vehicle registration certificate, bank statement, etc.
Q4. How long does it take to process Form 60?
A4. It depends on the person who is accepting the transaction and the mode of submission of Form 60. If you submit Form 60 online using the e-filing portal of the Income Tax Department, it may take a few minutes to process it. If you submit Form 60 offline, it may take a few days to process it.
Q5. How can I check the status of my Form 60?
A5. You can check the status of your Form 60 by contacting the person who is accepting the transaction or by logging into the e-filing portal of the Income Tax Department using your acknowledgement number.
44f88ac181
Comentários