Скачать или смотреть Y form 60 & form 61 is important for non pan card having customers...😲

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🧾 Form 60 – When You Don’t Have a PAN

👉 Use:

You fill Form 60 when you don’t have a PAN card but you’re doing a financial transaction where quoting PAN is mandatory.

💼 Examples:

You must submit Form 60 if you don’t have a PAN and you are:

Opening a bank account

Depositing over ₹50,000 in a single day

Buying or selling an immovable property worth ₹10 lakh or more

Purchasing foreign currency above ₹50,000

Applying for a credit/debit card

Investing in mutual funds, bonds, or debentures above ₹50,000

Paying hotel bills over ₹50,000

Purchasing vehicle (other than two-wheeler)


🧩 Key Point:

Form 60 is basically your declaration that you don’t have a PAN, and you must give proof of identity and address.

If you later get a PAN, you should update it with the institution where you gave Form 60.


🪪 Form 61 – For Those with Agricultural Income or Not Taxable

👉 Use:

Form 61 is used to report details of people who have submitted Form 60 to an institution — usually by banks or companies.

But there’s another use:
If you have only agricultural income and your income is not taxable, you can submit Form 61 in place of a PAN for certain transactions.

💼 Who Uses It:

Farmers or small traders whose income isn’t taxable under the Income Tax Act.

Banks, co-ops, post offices, NBFCs etc. also use Form 61 to report all Form 60 declarations they received to the Income Tax Department every 6 months.




🔍 In Short

Form Used By When Purpose

Form 60 Individual without PAN Doing transactions where PAN is mandatory To declare that you don’t have PAN
Form 61 Individuals with only agricultural income / Non-taxable income OR institutions For reporting Form 60 submissions To report non-PAN transactions to IT Dept




⚠️ Important

Giving false info in Form 60 can lead to penalties under the Income Tax Act (Section 272B).

These forms are part of KYC (Know Your Customer) compliance — banks and post offices rely on them for verification.