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Form 60 and Form 61: What are they and how to download them online


Form 60 and Form 61: What are they and how to download them?




Introduction




If you are a resident of India and you do not have a Permanent Account Number (PAN), you may need to fill Form 60 or Form 61 in certain transactions. These forms are declarations that you do not have a PAN and that your income is below the taxable limit. In this article, we will explain what are Form 60 and Form 61, who needs to fill them, how to download them, and how to fill them. Read on to find out more.




form 60 form 61 download



What is Form 60?




Form 60 is a form of declaration that is required to be filled by a person who does not have a PAN and who enters into any transaction specified in Rule 114B of the Income Tax Rules, 1962. Some of these transactions are:



  • Opening a bank account or a demat account



  • Applying for a credit card or a debit card



  • Purchasing or selling immovable property worth more than Rs.10 lakh



  • Purchasing or selling a motor vehicle (other than two-wheeler)



  • Paying hotel bills exceeding Rs.50,000



  • Paying life insurance premium exceeding Rs.50,000



  • Purchasing mutual funds, bonds, debentures, or shares worth more than Rs.50,000



  • Purchasing foreign currency exceeding Rs.50,000



  • Paying cash deposits exceeding Rs.50,000 in a bank or a post office



Form 60 contains the details of the person making the declaration, such as name, address, date of birth, gender, occupation, Aadhaar number (if any), estimated income, and details of the transaction.


What is Form 61?




Form 61 is a form of declaration that is required to be filled by a person who does not have a PAN and who receives any sum or income or amount on which tax is deductible under Chapter XVII-B of the Income Tax Act, 1961. Some of these payments are:


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  • Salary



  • Interest



  • Dividend



  • Rent



  • Royalty



  • Commission



  • Fees



  • Contract payment



  • Professional payment



  • Technical payment



Form 61 contains the details of the person making the declaration, such as name, address, date of birth, gender, occupation, Aadhaar number (if any), estimated income, and details of the payment.


Who needs to fill Form 60 or Form 61?




A person needs to fill Form 60 or Form 61 if he or she meets the following conditions:



  • The person is a resident of India as per the Income Tax Act, 1961.



  • The person does not have a PAN.



  • The person enters into any transaction specified in Rule 114B or receives any payment on which tax is deductible under Chapter XVII-B.



The person's total income (including income of spouse, minor child etc.) for the financial year in which the transaction or payment is made does not exceed the maximum amount not chargeable to tax. For the financial year 2020-21, this amount is Rs.2.5 lakh for individuals below the age of 60 years, Rs. How to download Form 60 or Form 61?




There are different ways to download Form 60 or Form 61. You can choose the one that suits you best. Here are some of the options:


Download from the official website of the Income Tax Department




The easiest and most reliable way to download Form 60 or Form 61 is to visit the official website of the Income Tax Department of India. You can find the forms under the 'Forms/Downloads' section. You can also use this link to directly access the forms: . You can download the forms in PDF format and print them out.


Download from other online sources




Another way to download Form 60 or Form 61 is to use other online sources that provide the forms. However, you should be careful about the authenticity and accuracy of the forms. Some of the online sources that offer the forms are:












You can download the forms in PDF format and print them out.


Download from offline sources




If you do not have access to the internet or a printer, you can also download Form 60 or Form 61 from offline sources. You can visit any of the following places and ask for the forms:






  • The nearest branch of your bank or post office



  • The nearest office of the Income Tax Department



You can get a hard copy of the forms and fill them manually. How to fill Form 60 or Form 61?




Once you have downloaded Form 60 or Form 61, you need to fill them correctly and submit them to the concerned authority. Here are some tips on how to fill the forms:


General instructions





  • The nearest office of any tax consultant or chartered accountant



  • Use black ink and write in capital letters.



  • Fill the form in English only.



  • Do not overwrite or use correction fluid.



  • Attach a copy of your Aadhaar card (if any) and any other relevant document.



Particulars to be filled in Form 60




Form 60 has two parts: Part A and Part B. Part A contains the personal details of the declarant, such as name, address, date of birth, gender, occupation, Aadhaar number (if any), and estimated income. Part B contains the details of the transaction, such as nature, amount, date, mode of payment, name and address of the person with whom the transaction is made, and relationship with that person. You need to fill both parts with accurate information.


Particulars to be filled in Form 61




Form 61 has two parts: Part A and Part B. Part A contains the personal details of the declarant, such as name, address, date of birth, gender, occupation, Aadhaar number (if any), and estimated income. Part B contains the details of the payment received, such as nature, amount, date, mode of payment, name and address of the person from whom the payment is received, and relationship with that person. You need to fill both parts with accurate information.


Conclusion




In this article, we have explained what are Form 60 and Form 61, who needs to fill them, how to download them, and how to fill them. We hope that you have found this article useful and informative. If you have any questions or doubts regarding Form 60 or Form 61, you can contact the Income Tax Department or consult a tax expert. Remember that filling these forms is mandatory if you do not have a PAN and you are involved in certain transactions or payments. Failing to do so may attract penalties or legal action from the Income Tax Department. So, do not delay and fill your forms today.


Summary of the main points





  • Sign the declaration at the end of the form.



  • Form 60 and Form 61 are declarations that you do not have a PAN and that your income is below the taxable limit.



  • You need to fill Form 60 if you enter into any transaction specified in Rule 114B of the Income Tax Rules, 1962.



  • You need to fill Form 61 if you receive any payment on which tax is deductible under Chapter XVII-B of the Income Tax Act, 1961.



  • You can download Form 60 or Form 61 from the official website of the Income Tax Department or from other online or offline sources.



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Frequently Asked Questions





  • You need to fill both parts of Form 60 or Form 61 with accurate information and submit them to the concerned authority.



Form 60 is for transactions specified in Rule 114B of the Income Tax Rules, 1962. Form 61 is for payments on which tax is deductible under Chapter XVII-B of the Income Tax Act, 1961.


  • What is the difference between Form 60 and Form 61?



The purpose of Form 60 and Form 61 is to declare that you do not have a PAN and that your income is below the taxable limit.


  • What is the purpose of Form 60 and Form 61?



If you do not fill Form 60 or Form 61 when required, you may face penalties or legal action from the Income Tax Department. You may also be denied certain services or facilities that require PAN.


  • What are the consequences of not filling Form 60 or Form 61?



You can apply for a PAN online through the official website of the Income Tax Dep


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