How to Download Form 60 Online
Form 60 is a declaration that must be submitted by individuals who do not have a Permanent Account Number (PAN) and who enter into certain transactions specified in Rule 114B of the Income-tax Rules, 1962. PAN is a unique identification number issued by the Income Tax Department to every taxpayer in India. It is mandatory to quote PAN in various documents such as income tax return, bank account opening, property purchase, etc. However, some people may not have a PAN or may have applied for it but not received it yet. In such cases, they can use Form 60 as an alternative to PAN and carry out the transactions without any hassle.
In this article, we will explain what is Form 60, why you need it, how to fill and submit it online, how to download it from the income tax portal, and what are the benefits of filing it online.
how to download form 60 online
What is Form 60 and Why You Need It
Form 60 is a document to be filed by a person (not a company or firm) who does not have a PAN and who enters into any transaction specified in Rule 114B of the Income-tax Rules, 1962. These transactions include opening a bank account, buying or selling a vehicle, applying for a credit card, paying for foreign travel, etc. The purpose of Form 60 is to enable the income tax authorities to track the financial transactions of such persons and prevent tax evasion or fraud.
Form 60 is not acceptable if your total income (other than agriculture) is more than the basic exemption limit. In that case, you must apply for PAN and mention the date of application in column 21 of the form. You must also attach a copy of the acknowledgement receipt of your PAN application along with Form 60.
Transactions that Require Form 60
The following table lists the transactions that require Form 60 if you do not have a PAN or you are awaiting PAN allotment.
Nature of transaction
Value of transaction
Purchase or sale of any motor vehicle excluding two wheelers
Any value
Opening of demat account
Any value
Opening an account with any banking institution or bank other than basic savings deposit account/Application to institution or bank or company for debit or credit card
Any value
Purchase or sale of an immovable property value of Rs. 10 lakh or above
A fixed deposit with any bank/post office/Nidhi/non banking financial company
Amount more than Rs.50,000 or aggregation of more than Rs.5 lakh during any tax year
Payment to restaurants or hotels in cash against the bills
Exceeding Rs. 50,000 at one time
Payment in connection with travel to any foreign country or payment for purchase of any foreign currency in cash
Exceeding Rs. 50,000 at one time
Payment of a life insurance premium
Exceeding Rs.50,000 in a year
Sale/purchase of company shares or contract for sale or purchase of securities
Exceeding Rs.1 lakh per transaction
Conditions for Filing Form 60
You can file Form 60 only if you - do not have a PAN or you have applied for it but not received it yet - are not required to file an income tax return as per the provisions of the Income-tax Act, 1961 - are not engaged in any business or profession that requires an audit under the Income-tax Act, 1961 or any other law - are not liable to pay wealth tax, gift tax, expenditure tax, or any other tax under any law - are not required to furnish a report of audit under section 44AB, 92E, or 115JB of the Income-tax Act, 1961 - are not required to furnish a return of income under section 139(4A), 139(4B), 139(4C), or 139(4D) of the Income-tax Act, 1961
How to Fill and Submit Form 60 Online
If you meet the conditions for filing Form 60, you can fill and submit it online through the e-filing portal of the Income Tax Department. You will need to register yourself on the portal using your Aadhaar number, mobile number, and email address. Once you are registered, you can follow these steps to fill and submit Form 60 online.
Steps to Fill Form 60 Online
Login to the e-filing portal using your user ID and password.
Go to the 'e-File' menu and select 'Income Tax Forms'.
Select 'Form 60' from the drop-down list and click on 'Continue'.
Fill in the details such as name, address, date of birth, gender, Aadhaar number, transaction details, etc. in the form.
Verify the details and click on 'Preview and Submit'.
Enter the OTP received on your registered mobile number and email address and click on 'Submit'.
A confirmation message will be displayed on the screen and a copy of Form 60 will be sent to your email address.
Documents Required for Form 60
You will need to attach the following documents along with Form 60 when you submit it online.
A copy of your Aadhaar card or Aadhaar enrolment slip
A copy of your identity proof such as voter ID card, driving license, passport, etc.
A copy of your address proof such as electricity bill, water bill, telephone bill, bank statement, etc.
A copy of your PAN application acknowledgement receipt if you have applied for PAN
A copy of the document related to the transaction for which Form 60 is filed such as bank account opening form, property sale deed, vehicle registration certificate, etc.
How to Download Form 60 from Income Tax Portal
If you have filed Form 60 online through the e-filing portal of the Income Tax Department, you can download it from the portal anytime for your reference or record. You can follow these steps to download Form 60 from the income tax portal.
Steps to Download Form 60 from Income Tax Portal
Login to the e-filing portal using your user ID and password.
Go to the 'My Account' menu and select 'View Form 26AS (Tax Credit)'.
Select 'View Tax Credit (Form 26AS)' from the drop-down list and click on 'Confirm'.
Select the assessment year for which you want to download Form 60 and click on 'View/Download'.
A PDF file containing Form 60 will be displayed on the screen. You can save it on your device or print it out.
Benefits of Filing Form 60 Online
Filing Form 60 online has many benefits over filing it offline. Some of these benefits are:
How to download form 60 online for income tax purposes
How to download form 60 online for nonimmigrant visa application
How to download form 60 online from Central Board of Direct Taxes website
How to download form 60 online for bank account opening
How to download form 60 online for property transactions
How to download form 60 online for mutual fund investments
How to download form 60 online for PAN card application
How to download form 60 online for vehicle registration
How to download form 60 online for hotel booking
How to download form 60 online for insurance policies
How to download form 60 online for cash deposits
How to download form 60 online for foreign exchange transactions
How to download form 60 online for credit card payments
How to download form 60 online for share transfers
How to download form 60 online for gold purchases
How to download form 60 online for lottery winnings
How to download form 60 online for post office schemes
How to download form 60 online for loan repayments
How to download form 60 online for rent receipts
How to download form 60 online for travel expenses
How to download form 60 online for medical bills
How to download form 60 online for tuition fees
How to download form 60 online for donations
How to download form 60 online for gifts
How to download form 60 online for e-commerce purchases
How to fill and submit form 60 online after downloading it
How to verify and print form 60 online after downloading it
How to save and edit form 60 online after downloading it
How to upload and send form 60 online after downloading it
How to sign and scan form 60 online after downloading it
What is the purpose and benefit of downloading form 60 online
What are the documents and details required for downloading form 60 online
What are the rules and regulations for downloading form 60 online
What are the penalties and consequences for not downloading form 60 online
What are the alternatives and exemptions for downloading form 60 online
Where can I find the official link and instructions for downloading form 60 online
Where can I get the help and support for downloading form 60 online
Where can I check the status and confirmation of downloading form 60 online
Where can I update and correct the information of downloading form 60 online
Where can I access and view the history of downloading form 60 online
Convenience and Speed
You can file Form 60 online from anywhere and at any time using your computer or smartphone. You do not have to visit any office or fill any paper forms. You can also save your time and avoid any delays or errors in processing your form.
Accuracy and Compliance
You can fill Form 60 online with ease and accuracy using the pre-filled fields and validations. You can also check the status of your form submission and rectify any mistakes if any. You can also ensure compliance with the income tax rules and regulations by filing Form 60 online.
Security and Privacy
You can file Form 60 online securely using your login credentials and OTP verification. You can also protect your personal and financial information from any unauthorized access or misuse by filing Form 60 online. You can also download and store your Form 60 safely on your device or email.
Conclusion
Form 60 is a declaration that must be submitted by individuals who do not have a PAN and who enter into certain transactions specified in Rule 114B of the Income-tax Rules, 1962. It is a substitute for PAN and helps the income tax authorities to track the financial transactions of such individuals. You can fill and submit Form 60 online through the e-filing portal of the Income Tax Department. You can also download it from the portal anytime for your reference or record. Filing Form 60 online has many benefits such as convenience, speed, accuracy, compliance, security, and privacy. If you do not have a PAN or you are awaiting PAN allotment, you should file Form 60 online and avoid any inconvenience or penalty.
FAQs
Here are some frequently asked questions about Form 60 and their answers.
Q1. Who can file Form 60?
A1. Form 60 can be filed by a person (not a company or firm) who does not have a PAN and who enters into any transaction specified in Rule 114B of the Income-tax Rules, 1962. However, such person must not be required to file an income tax return or pay any other tax or furnish any audit report under any law.
Q2. What is the difference between Form 60 and Form 61?
A2. Form 60 is a declaration to be filed by a person who does not have a PAN and who enters into certain transactions specified in Rule 114B of the Income-tax Rules, 1962. Form 61 is a declaration to be filed by a person who has an agricultural income and who is not required to obtain a PAN.
Q3. How long does it take to process Form 60 online?
A3. It takes only a few minutes to fill and submit Form 60 online through the e-filing portal of the Income Tax Department. You will receive a confirmation message on the screen and a copy of Form 60 on your email address after submitting it online.
Q4. What are the consequences of not filing Form 60?
A4. If you do not file Form 60 when you enter into any transaction specified in Rule 114B of the Income-tax Rules, 1962, you may face the following consequences:
You may not be able to complete the transaction or avail the service for which you need to provide PAN or Form 60.
You may be liable to pay a penalty of Rs.10,000 under section 272B of the Income-tax Act, 1961 for each failure to comply with Rule 114B.
You may also be subject to scrutiny or investigation by the income tax authorities for possible tax evasion or fraud.
Q5. Can I file Form 60 offline?
A5. Yes, you can file Form 60 offline by filling it in paper form and submitting it along with the required documents to the person or entity with whom you are entering into the transaction specified in Rule 114B of the Income-tax Rules, 1962. However, filing Form 60 online is more convenient, fast, accurate, compliant, secure, and private than filing it offline. 44f88ac181
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