If you’re an Indian citizen, a PAN card will be required if you earn income. If not, you can submit Form 60 to the appropriate authority. Pancard Form 60 is accepted as legal identification for any financial transactions in the traditional banking sector.
Form 60 is a document used to declare the reasons why an individual does not have a PAN card. In addition to providing their name and address, applicants must provide proof that they do not have a PAN card in some other form (such as employer details, or bank statements).
When do you need FORM 60?
If you’re making a purchase or sale of property worth more than INR 5,000, it’s important to register the agreement with the appropriate authorities. This may include the revenue department, registrar of deeds and others.
- You must register agreements worth more than Rs. 5 Lakh with the appropriate authorities like those in the revenue department, registrar of deeds, and others.
- Buying and selling any kind of motorized vehicle, including two-wheelers but excluding scooters. The price can be anything.
- The Collective Fixed Deposit is best for people who want to invest more than Rs 50,000. You can choose a term that’s comfortable for you and start saving more!
- Any deposit that is 50,000 or more in a post office account.
- If you are signing a document that is valued at more than Rs 10 lakh relating to the purchase and sale of securities.
- For the opening of any bank or financial institution account, when time is of the essence.
- When you’re looking to apply for a telephone line.
- You’ll be able to make payments of any amount more than Rupees 25,000 at one time.
Documents required for filling of Form 60
After completing Form 60, you will need to submit documents that work as proof of identity or address.The list below shows the accepted documents in India:
- Drivers license
- Passport
- Food Card
- This identification is an accredited institution
- Current gas bill or electric company bill
- Official document issued by the state, central, or provincial government
- Any other document proof which is related to address mentioned
- Pensioner card with a photo
- Water bill
- Landline bill
- NRGS job card
Conclusion
Form 60 is a document that you need when applying for PAN numbers. This form can be downloaded from the Income Tax Department’s website, and this process is fairly easy. The online application for PAN requires you to provide personal details and documents. If you want to apply for Form 60, you will need to download a copy of this form from their site and follow the instructions given on it.
