Form 60 PAN Card - Meaning, How to Fill & Download

The Government of India has made it essential for citizens to have a PAN card. The Income Tax Department of India uses your PAN Card to track all financial transactions to prevent tax evasion or other fraudulent acts by companies. Therefore, it is necessary for every individual to have a PAN card to carry out all financial transactions and activities. In case an individual does not have a PAN Card, they can submit the PAN Form 60 as a declaration form to engage in certain financial transactions in India. 

Read along to know when Form 60 is required and how to fill and download the Form 60 pdf of income tax.

Form 60 Meaning

The term ‘Form 60’ means an official document that is submitted by individuals who do not have a PAN card to conduct financial transactions or create bank accounts as specified in Rule 114B of the Income-tax Rules, 1962. Form 60 is also used when financial assets are bought and sold or to file tax returns. If you do not have a PAN card, Form 60 is a must-have document for carrying out financial activities.

Income Tax Calculator

When is Form 60 of Income Tax Required?

Form 60 is necessary when an individual does not have a PAN card and wants to engage in the following financial transactions:

  • Purchase or sale of an immovable property worth Rs.5 lakh or more.
  • Buying or selling a motor vehicle. This does not include two-wheelers but contains removable sidecars with wheels attached to the vehicle.
  • A fixed deposit of greater than Rs.50,000 is made with any bank.
  • Any deposit in a Post Office savings bank account that exceeds Rs.50,000.
  • Any contract for the acquisition or sale of securities with a value of Rs.10 lakh or more.
  • Opening a bank or financial institution account.
  • To file Income Tax Returns.
  • Requesting the installation of a telephone line, including a mobile phone.
  • Payment to restaurants or hotels for invoices exceeding more than Rs.25,000 in one transaction.

Information Needed to Fill Form 60

Form 60 contains several essential elements that must be filled out before submission. Here is the list of important information that the applicant must fill out:

  • First, middle, and last names
  • Date of Birth in DDMMYYYY
  • Father’s First, Middle, and Last Name
  • Official address – Flat/Room No., Floor No., Name of Premises, Block Name/No., Road/ Street/ Lane, Area/ Locality, Town/ City, District, State, Pin code
  • Telephone and Mobile Numbers
  • Transaction amount
  • Transaction date in DDMMYYYY
  • All persons’ names (in the case of joint transactions)
  • Transaction Mode
  • Aadhaar number
  • Acknowledgement and date of application for a PAN, if one is requested.
  • Estimated total income for the fiscal year if no PAN is used.
  • Specifics of the identification proving document.
  • Address proof document details.

How to Download Form 60 in PDF?

One can get Form 60 of Income Tax from the official website of the Income Tax Department. One must follow the steps outlined below to download Form 60 pdf:

Step 1: Go to the official website of the Income Tax Department.

Step 2: From the top navigation menu, select “Forms/Download.”

Step 3: Select “Income Tax Forms” from the drop-down menu.

Step 4: You will be led to a page listing various income tax forms.

Step 5: Now select  “Form No.60.”

Step 6: Select the document. It will then be downloaded to your machine automatically.

How to Submit Form 60 of Income Tax?

Form 60 declarations must be presented to the entity with which the transaction is being performed, either online or on paper. For example, if you want to open a bank account but don’t have a PAN card, you must submit a fully completed and signed copy of Form 60 together with supporting papers to the bank. You must notify the bank if you obtain the PAN card at any point throughout this procedure.

Supporting Documents for Form 60 

Identity Proof

  • Voter ID
  • Passbook or Bank Statement
  • Aadhaar Card
  • Passport
  • Driving License
  • Pensioner card with photo
  • Domicile Certificate
  • NREGS

Address Proof

  • Electricity Bill
  • Water Bill
  • Landline Bill
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