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Form 60

Uses of Form 60

Last Updated 24th Jan 2022

  • Form 60 is used as a legal document while making a financial transaction in the absence of PAN.
  • The form is used for opening new accounts and investing in funds.
  • Purchase and sale of immovable property and motor vehicles over ₹ 50,000 require this form.
  • Form 60 is required for expenses over ₹ 50,000 for foreign travel and foreign currency purchase.
  • Hotel and restaurant bills exceeding ₹ 25,000 requires form 60.

What is Form 60?

PAN Card is a statutory requirement while making any financial transactions in the country. From opening a bank or investment account to filing income tax returns, providing a PAN number is obligatory. The Indian Government has made the PAN a mandatory requirement to monitor the financial transactions occurring over the country and to track down any incident of tax evasion.

However, many individuals may not have a PAN card. Some individuals may have applied but are yet to receive the PAN card. In any such case, if an individual does not hold a valid PAN card, form 60 can be the solution. This legal document can be submitted in the absence of a PAN card. Needless to say, for those with no PAN card, form 60 becomes the mandatory requirement.

How to Download Form 60 PDF?

The form 60 pdf is available on the official website of the Income Tax Department. Follow these steps to download the form 60.

  • Land on the official portal of the Income Tax Department.
  • On the menu bar, tap on ‘Forms/Download’. A drop-down menu will appear.
  • Take the option of ‘Income Tax Forms’ from the drop-down.
  • The said option will lead to the next page displaying different income tax forms.
  • Scroll down and spot the row of ‘Form No.: 60’.
  • Tap on the form 60 pdf to download the form.

You can download the form within minutes with the above laid out steps.

Essentials of Form No. 60

Individuals and non-individuals with no valid PAN card are required to submit form no 60 while making the following financial transactions.

  • Opening an account of any value in any bank or financial organization.
  • Opening a Demat account of any value.
  • Applying for a debit card or a credit card.
  • Fixed deposit investment of more than ₹ 50,000.
  • Mutual fund investment of more than ₹ 50,000.
  • Post office savings account deposit of more than ₹ 50,000.
  • Paying for life insurance yearly premium of more than ₹ 50,000.
  • Purchasing or selling motor vehicles of any value. Two-wheelers are excluded.
  • Purchasing or selling immovable property worth more than ₹ 1 Lakh.
  • Purchasing or selling contracts or shares worth more than ₹ 1 Lakh.
  • Purchasing or selling goods or services worth ₹ 2 Lakh or more.
  • Paying a one-time restaurant or hotel bills worth more than ₹ 25,000.
  • Paying more than ₹ 50,000 at one time for travel in a foreign country.
  • Paying more than ₹ 50,000 at one time for a cash purchase of foreign currency.

Documents Required for Form 60

The document requirement has been mentioned at the end of the form 60 pdf. Here goes the list of documents that you can present as identity and residency proof.

  • Aadhaar card
  • Ration Card
  • Passport
  • Driving license
  • Any institution-issued ID proof
  • Photocopy of electricity bill
  • Central or State Government-issued document
  • Any other document supporting the address provided in the form.

Apart from the aforesaid documents, a few other documents may be required.

  • Photocopy of deed or Charity Commissioner issued a registration certificate for trusts.
  • Photocopy of agreement or Charity Commissioner issued a registration certificate for the body of individuals, local authority and artificial juridical person.

How to Fill Form Number 60?

Once you have followed the steps for form 60 download and have obtained the form, you can fill-up the form in the following manner.

  • Enter the following personal details.
    • Your name
    • Date of birth or incorporation of the declarant
    • Name of father
  • Enter the following residential details.
    • Flat and floor number
    • Premises name
    • Block no
    • Road/Street/Lane
    • Area/Locality
    • Town/City
    • District
    • State
    • Pin code
  • Enter the following contact details
    • Telephone Number
    • Mobile Number
  • Enter the following transaction details.
    • Transaction amount
    • Date of transaction
    • Number of persons involved (in case of joint transactions)
    • Transaction mode
  • Enter Aadhaar number
  • Enter PAN application number (if applied for PAN)
  • Enter the estimated total income in the respective financial year (if not applied for PAN)
  • Enter the document details.
  • Provide self-declaration by entering name, date and signature.

How to Submit Form 60?

You can submit form no 60 in the same manner as you submit a PAN card. Submit the filled and duly signed form to the concerned authority during any financial transactions. It will act as the substitute for the PAN card.

Know All About PAN


What is Pan Card Form 60?

PAN card form 60 is the legal document that you can submit while making any financial transactions if you do not have any valid PAN card.

What is the validity period of Form 60?

Form 60 is valid for a period of 6 years from the end of the financial year in which the financial transaction was made.

How do I fill out a No 60 form?

Once you have downloaded the form, follow these steps to fill the form.

  • Provide your personal details.
  • Provide your residential details.
  • Provide communication details.
  • Provide an Aadhaar number and document details.
  • Sign the self-declaration

Which is not applicable for Form 60?

Valid PAN card holders are not applicable for form 60.A Form 60 is valid only when one does not have a valid PAN card with him or her.

What is form 60 in SBI bank?

Form 60 in SBI bank is the mandatory requirement for those who want to open an account or make any other financial transaction in SBI but do not have a valid PAN card.

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