Everything you need to know about Form 60 PAN Card

Form 60 is a mandatory document that is submitted by the individuals who do not possess a PAN Card to carry out the financial transactions of above Rs. 50,000 or while opening a bank account. It is also required while filing tax returns or buying and selling of an asset.

When should Form 60 be furnished?

Form 60 should be furnished in two scenarios. Firstly, when you do not have a PAN card or when you have applied for a PAN card online, but your allotment is still pending. The second scenario is acceptable only in the case where the total income of a person exceeds the maximum amount that is not taxable in the year of the transaction.

Procedure to fill Form 60

One should always keep in mind the following list of things before filling and submitting the Form 60:

• First name, middle name, and the surname of the declarant
• Date of birth of a declarant and his father’s name
• Mobile number and declarant’s full address
• The date of the transaction along with the mode and the amount of the transaction
• Aadhaar number
• Application date due
• The acknowledgment number, if you have applied for the PAN Card but have not received it yet

Documents required for filing Form 60

Before you are going to submit Form 60 India, individuals must submit documents that will work as an identity proof or address proof along with Form 60. The list is mentioned below:

• Driving license
• Passport
• Ration Card
• Identity Proof from an accredited institution
• Copy of telephone bill or electricity bill
• Document issued by State Government, Central Government, or any other local bodies
• Any other document proof which is related to address mentioned
• Pensioner card with a photo
• Water bill
• Landline bill
• NRGS job card

How to submit Form 60? 

Form 60 PAN Card can be submitted online or offline. If you are choosing an offline mode, you need to hand it over to the concerned authority after duly filling up the form. If you are doing a financial transaction over a certain limit, in that case, you need to submit the form directly to the concerned bank along with the identity proof.