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Today, if you decide to do any transaction with a banking institution, or deal with a particular type of goods then PAN card is the basic proof required. However, there are still a number of people who do not have a PAN or may have already applied for a PAN and are waiting to be granted. Form 60 can be used instead of providing a PAN for such people in most cases. Form 60 is a declaration to be completed by a person or person (other than a company or firm) who does not have a PAN and enters into any transaction referred to in regulation 114B.

Well, Form 60 is a way to provide a PAN but, NOT in all cases. Form 60 is not and will never change the PAN quote. It is only because of the users that the government has given us some rest, according to a certain category of activities. All communications made to the revenue department are monitored through your PAN whether it fills in a refund, receives a refund, provides notifications and any other such communications. In some cases the department imposes a mandatory requirement for a person to have a PAN, these conditions in terms of section 139A include

• If you exceed the required ITR filling limit
• Your profit in business or employment exceeds 5,00,000 / -
• Citizen other than a person doing financial work amounting to Rs 2.5 lakhs or more per annum
• All MD, director, Karta of HUF, factory partner etc
• A person filing a refund under section 139 (4A)
• Employer is required to file an ITR to provide extra benefits

Compliance with KYC requirement, even existing E-KYC transactional procedures such as Paytm, OLA etc also require PAN.

Act 114B of the Income Tax Act 1961 explicitly provides that, if, a minor enters into any of the above and has no taxable income, then the Minor may quote the PAN of his or her Father, Mother or Guardian while making these contracts.

In terms of Rule 114B, Non-Citizens are required to quote a PAN or submit only Form 60 for a limited number of jobs, below:

Yes, like the NR and its jurisdiction, the Central Government, the Provincial Government and the Consular Offices are also completely exempt from quoting PAN while conducting any transaction referred to in Rule 114B.

For user convenience, Form 60 can be sent both online and offline. Offline ie physical submission of Form 60 can be done to the relevant authorities, after completing the form accordingly. Eg. If you submit Form 60 in terms of the Income Tax Act and send it to the Tax Administration or when you complete Form 60 to open a bank account take it to the bank concerned.The online process of submitting a Form 60 to the Income Tax Department will be followed as follows

• A) Electronic verification can be done through this website-
• B) Aadhaar Specific Authentication can be created and used:
  1. By OTP on your mobile number linked to aadhar or mail ID.
  2. By Biometric Methods i.e. it can be an iris (scan your eye) or fingerprints.
  3. Two-way authentication namely OTP + biometric methods
  4. Or, OTP use and fingerprints and iris all together

So far we have discussed a number of things about Form 60. You may be curious about what form 60 looks like, is very long, is a collection of forms or what it really looks like !! WELL to rest all your questions, a simple one-page example of Form 60 is included here.

Other documents that need to be included in the submission of Form 60

• Aadhaar Card
• Driving license
• Bank Pass Book (having photograph)
• Elector’s Photo ID
• Ration Card
• Passport
• Pensioner Photo card
• Proof of address
• Telephone bill and electricity bill copies
• Communication or document issued by Central or State Government or local bodies
• Domicile Certificate
• Kisan passbook
• Arm’s License etc

There is much more evidence, their list of possible attachments to Form 60.

If you have already submitted Form 49A for the PAN allocation, you only need to provide an application receipt and bank account summary for 3 months. No more documents listed as specified above will be required.

The details as set out below are required to be provided when completing form 60

• Your complete name
• Date of Birth
• Full address
• Telephone Number / Mobile Number
• Amount of Transaction
• Date of transaction
• Mode of transaction
• Aadhaar number
• If PAN applied then application and acknowledgement number
• Disclosures of income
• Sign and mention date and place.

If you do not have the information that will be disclosed in a particular column write - "Not applicable".

Any incorrect declaration on Form 60 will entitle you to the consequences under section 277 of the Income Tax 1961.

Subject to the provisions of section 277, any person who discloses information that is misleading or false is liable to liability below:

• If the tax evasion result is more than Rs 25 lakhs, imprisonment for at least 6 months to 7+ years and fines as appropriate.
• In some cases, imprisonment for at least 3 months to 2 years and a fine.

Yes there are a few forms also related to PAN. A brief description of these forms is set out below:

49A - This application form is used by Indian citizens to obtain a PAN and to adjust the PAN.

49AA - Unlike 49A, this application form is used by Non-Citizens (outsiders) or organizations affiliated outside India to obtain a PAN in India.

These two forms are completely different. Where form 60 is used as a document instead of providing PAN for other financial matters, Form 16 is issued by your employer. , covering your income portions etc.

You can use Form 60 as many times as needed. However, if you submit the Form 60 to the same person or authority next, you may choose to disclose only additional information. Additional information means the details changed after submitting your last Form 60. Form 60 is a blessing for someone who intends to enter the financial business, but was stopped because he did not have a PAN. Distributing this form online according to the latest changes made by CBT has added benefits. So, well-equipped to fire someone, they will then tell you to get a PAN just to open a Bank account or similar. To contact the CA's expert team, Contact Us Now !!