Form 60

PAN Form 60 serves as an official document required by individuals who do not possess a PAN card but need to engage in various financial transactions, such as opening a bank account, buying or selling assets, making cash payments exceeding ₹50,000, filing tax returns, or registering a business. In such scenarios, Form 60 becomes essential for compliance and facilitates the smooth execution of these financial activities in the absence of a PAN card.

In instances where an individual or non-individual does not possess a PAN card, the submission of PAN Form 60, along with other required documents, is necessary to proceed with the transaction. This ensures compliance with regulatory requirements and facilitates the smooth execution of financial activities.

When is Form 60 Required

Purchase or sale of an immovable property valued at Rs. 10 lakh or above.
Purchase or sale of any motor vehicle (excluding two-wheelers, but including detachable sidecars with wheels attached).
Opening a demat account.
Fixed deposit amount exceeding Rs. 50,000 with any bank.
Deposit exceeding Rs. 50,000 in a Post Office savings bank account.
Any contract valued at Rs. 1 lakh or more per transaction for the purchase or sale of securities.
Opening an account with any financial institution or bank.
Applying for a debit/credit card.
Payment to mutual funds exceeding Rs. 50,000.
Life insurance premium payment exceeding Rs. 50,000 in a year.
Purchase or sale of shares of a company not listed on any recognized stock exchanges if the transaction value is more than Rs. 1 lakh.
Payment to restaurants or hotels against bills or purchase of foreign currency or foreign travel for any amount exceeding Rs. 50,000 at one time.
Purchase or sale of services/goods not listed above if the transaction value is more than Rs. 2 lakh.

PAN Card Procedure

Information Required to Fill Form 60?

Full name and address of the declarant
Date of birth of the declarant and name of Father (in case of an individual)
Full address of the declarant with a mobile number
Particulars of the transaction and the amount of the transaction
If you have been assessed to tax, then mention your details of Range, Ward, or Circle where you had last filed IT
Mention your Aadhaar Number if issued
Date of application and acknowledgement number of PAN if applied and not received yet

Documents Required for Form 60?

The following documents can be submitted as identity and address proofs along with Form 60. This is not required if you have applied for PAN or provided your Aadhaar number:

1. Individuals and HUF

Aadhaar card
Bank/Post office passbook with the person’s photograph
Elector’s photo identity card
Public Distribution System/Ration card with the person’s photograph
Passport
Driving license
Pensioner photo card
NREGS Job card
Caste or Domicile certificate with the person’s photo
Certificate of address/identity signed by a Member of Parliament/Member of Legislative Assembly/Municipal Councillor/Gazetted Officer (as per annexure A prescribed in Form 49A)
Certificate from the employer (as per annexure B prescribed in Form 49A)
Kisan passbook with a photo
Arm’s license
Central Government Health Scheme/Ex-servicemen Contributory Health Scheme card
Photo identity card issued by the government/Public Sector Undertaking
Utility bills (electricity/landline telephone/water bill) not older than 3 months
Consumer gas card/book or piped gas bill (not more than 3 months old)
Credit card statement (not more than 3 months old)
Bank account statement (not more than 3 months old)
Depository account statement (not more than 3 months old)
Property registration document
Allotment letter of accommodation from the Government
Passport of spouse bearing the name of the person
Property tax payment receipt (not more than one year old)

2. For Association of persons (Trusts):

Copy of trust deed or certificate of registration issued by Charity Commissioner

3. 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

Form 60

When is Form 60 Required

PAN Card Procedure

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Form 60

When is Form 60 Required

PAN Card Procedure

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