Form 60 - Meaning, How to fill & Download Process

Form 60 is a crucial declaration form prescribed by the Income Tax Department of India. Its primary purpose is to serve as a substitute for a PAN card for individuals who need to undertake specific high-value financial transactions but have not been allotted a PAN. By signing Form 60, you are officially declaring that you do not have a PAN and that your income (excluding agricultural income) is below the maximum amount not chargeable to income tax. This form ensures that financial transactions are documented and can be traced by tax authorities, even in the absence of a PAN. It is commonly used for opening bank accounts, buying or selling property, and other transactions listed under Rule 114B of the Income Tax Rules.

How to Fill Form 60: A Step-by-Step Guide

Filling out Form 60 is a simple process. Ensure all details are accurate to avoid any issues. The form must be submitted along with a valid proof of identity and address.

1. Full Name and Address:

   • Enter your full name (First Name, Middle Name, Last Name) exactly as it appears on your official identity documents.

   • Provide your complete residential address, including the flat/door number, building name, street, area, town/city, district, state, and PIN code.

2. Date of Birth:

   • Write your date of birth clearly in the DD/MM/YYYY format.

3. Father's Name:

   • Enter the full name of your father.

4. Contact Details:

   • Provide your active mobile number and your email address, if any.

5. Transaction Details:

   • Clearly mention the nature of the transaction (e.g., "Opening a new savings bank account," "Cash deposit of ₹60,000").

   • Specify the amount of the transaction in Indian Rupees.

6. PAN Details:

   • If you have previously applied for a PAN but have not received it yet, mention the date of application and the acknowledgment number.

   • If you have never applied for a PAN, leave these fields blank.

7. Agricultural and Other Income:

   • You must declare your estimated total income for the financial year, including income from all sources.

   • If you have agricultural income, mention that amount separately.

8. Verification and Signature:

   • Read the declaration carefully. It states that the information you have provided is true and correct.

   • Sign the form, and write the date and place of signing.

Important: You must attach a self-attested copy of a valid document for Proof of Address (like an Aadhaar card, Voter ID, or Passport) along with the filled form.

How to Download Form 60

Getting a blank copy of Form 60 is very easy. You can download it from several official sources.

• Income Tax Department Website: The most reliable source is the official website of the Indian Income Tax Department. You can find it in the 'Forms' section.

• Bank Websites: Most major banks in India, such as SBI, HDFC Bank, and ICICI Bank, provide a downloadable PDF of Form 60 in the 'Forms Center' or 'Downloads' section of their websites.

• Physical Forms: You can also ask for a physical copy of Form 60 directly at the branch of the bank or financial institution where you are conducting the transaction.

Simply search for "Form 60 PDF Download" online, and you will find links from these official sources.

Conclusion

Form 60 is a simple yet powerful tool that enables individuals without a PAN to participate in the formal financial system. It bridges a critical gap, ensuring that essential transactions are not blocked while maintaining a record for the tax authorities. By filling it out accurately and honestly, you comply with legal requirements and ensure your financial activities are documented correctly. Always remember that providing false information on Form 60 is a punishable offense, so it's essential to be truthful in your declaration.