An individual, with no PAN card, has to fill and submit Form 60, for financial transactions mentioned under rule 114B of the Income-Tax Act, 1961. Individuals, who do not have PAN cards, have to fill Form 60. This is not applicable to companies.
Click here to download Form 60.
When do you have to submit Form 60?
Form 60 should be duly filled and submitted in the following situations, if you do not have a PAN:
| Type of transaction | Value |
| Buying or selling motor vehicles, excluding two-wheelers | Any value |
| Opening of any account, that is not a savings account | Any value |
| Opening Demat account | Any value |
| Buying or selling property | Worth Rs 10 lakh or more |
| Fixed deposit | Amount over Rs 50,000 or aggregation of over Rs 5 lakh in a year |
| Payment to hostels and restaurants in cash | More than Rs 50,000 in one instance |
| Cash payment during foreign travel | More than Rs 50,000 in one instance |
| Payment of life insurance premium | More than Rs 50,000 in one year |
| Buying or selling company shares | More than Rs 1 lakh in one transaction |
| Payment to a mutual fund company to buy units | More than Rs 50,000 |
| Buying or selling services or goods not listed above | More than Rs 2 lakh in one transaction |
Note, if a minor gets into a transaction requiring PAN, either the PAN of the guardian or Form 60 has to be provided, to complete the transaction.
See also: PAN card application form: All about Form 49A
Information to be filled in Form 60
- First name
- Middle name
- Surname
- Date of birth
- Father’s name
- Address
- Amount of transaction
- Date of transaction
- In case of transaction in joint names, number of persons involved in the transaction
- Mode of transaction
- Aadhaar number issued by UIDAI (if available)
- If applied for PAN and it is not yet generated: enter the date of application and acknowledgement number
- If PAN has not been applied for: mention estimated total income (including spouse’s income, income of minor child, etc., as per Section 64 of I-T Act, 1961) for the financial year in which the above transaction is held
- Details of documents being produced in support of identity
- Details of documents being produced in support of address
- Place
- Signature
See also: What is the PAN card correction form?
Documents to be submitted with Form 60
Along with Form 60, you have to submit one of the following documents in case you have not applied for a PAN card yet:
- Aadhaar card
- Driving licence
- Passport
- Ration card
- ID proof from an accredited institution
- Utility bills
- Any government-issued ID document
- Any government-issued address proof document
In case, you have applied for a PAN and allotment is pending, just submit the application.
How to submit Form 60?
Form 60 can be downloaded and filled offline or filled and submitted online with the entity you are conducting the transaction.
