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Form 61

Uses of Form 61

Last Updated 27th May 2022

Some of the uses of Form 61

  • Purchase and sale of property and vehicles other than two-wheelers.
  • For bank and post office, FDs exceeding ₹ 50,000 .
  • To open a bank account and get a mobile or internet connection.
  • Contract to buy or sell specified securities above ₹ 10 Lakh.
  • The bills for restaurants and hotels over ₹ 25,000 .

What is Form 61?

It is a declaration form submitted by the individuals who earn solely from agriculture or any other employment or who do not claim a taxable income of some kind unless it is inferred from the activity referred to the a-h clauses of the 114b Act. Income Tax Department of India publishes this form under the Central Board of Direct Taxes jurisdiction.

Form 61 Used For

Regarding the transactions referred in clauses (a to h) of Rule 114B, this form is used in place of a PAN. People can use it for:-

  • Buying or selling immovable property worth over ₹ 5 Lakh.
  • Buying or selling vehicles other than a two-wheeler.
  • An FD at any bank that reaches ₹ 50,000 .
  • An FD with the post office which exceeds ₹ 50,000 .
  • The contract for the acquisition or selling of stated securities exceeding ₹ 10 Lakh.
  • To open a bank account.
  • For installing telephone or cellular connection.
  • Restaurants and hotel bills surpassing ₹ 25,000 .

How to Fill Form 61?

Applicants can procure Form 61 both online and offline and have to provide certain information. This includes -

  • The applicant’s name and address
  • Transaction details
  • Address Proof
  • Declarant’s signature along with date and place

Applicants will need to sign the verification referred to in the form, declaring that all the information provided is accurate and they should also provide information about the date and location.
Hand out the Form 61 to the concerned person handling the transactions.

Documents Required for PAN Form 61

Applicants will have to submit a supporting document for address verification. The documents are:

  • Aadhaar card
  • Voter ID card
  • Ration Card
  • Driving license
  • Previous three months utility bills
  • Identity card having applicant’s address issued by an institution
  • Government-issued documents containing the residential address of the applicant
  • Passport
  • Other documents verifying the applicant’s address

Difference between PAN Form 60 Vs Form 61

Form 60Form 61
Issued to those who don’t possess a PAN card but willing to register the transactions under 114B.Filled by those who have received agricultural income/other employment/who don’t earn taxable income.
Applicants not having General Index Register Number but wish to transact in cash.Submit it under rule 114B in case of income from agriculture.


What is Form No 60 and Form 61?

It is for people who make their income solely from agriculture or some other job or who do not report taxable profits of any kind referred to in the a-h clauses of the 114b Act.Form 60 is filed by an entity or another party to carry out financial transactions in the absence of a PAN, or the allocation is pending.

Why is form 61 needed?

It is needed to report agricultural income or other employment or who don’t have taxable profits.

Is Form 60 required for every transaction?

Yes, it is required for every transaction until you have a PAN card.

How do I apply for Form 60?

You can get Form 60 from the website of the Income-tax department of India and submit it wherever required.

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