Form 60 PDF Summary
Hello friends, in this article we are going to share the Form 60 PDF with you. Form 60 is a very important document that is submitted when an individual does not have a permanent account number and enters into certain transactions specified in Rule 114B of the Income-tax Rules, 1962. Now it is mandatory to provide Permanent Account Number (PAN) for many transactions. This process helps the Indian government in tracking tax evasions, tax frauds, and illegal transactions.
In certain situations, the individuals involved in the transactions specified in Rule 114B, may not have a PAN card and in such situations, they will need to provide a filled and duly signed copy of Form 60 along with other supporting documents.
Form 60 PDF
When this form is required we have provided all reasons below.
|Purchase or sale of any motor vehicle. This excludes two wheelers but includes detachable side cars which have wheels attached to the vehicle.||All value|
|Opening a demat account||All value|
|Purchase or sale of an immovable property||If more than Rs.10 lakh|
|Fixed deposit with any bank||Above Rs.50,000|
|Post Office deposit||Above Rs.50,000|
|Contract for the purchase or sale of the securities||If more than Rs. 1 Lakh per transaction|
|Opening of bank account with any bank or financial institution||All value|
|Applying for a credit or debit card||All value|
|Payment of restaurant/ hotel bills or purchase of foreign currency or for foreign travel||If more than Rs.50,000 one time|
|Payment to mutual funds||If more than Rs.50,000|
|Life insurance premium payment||If more than Rs.50,000 in a year|
|Purchase or Sale of the shares of a company not listed in any of the recognised stock exchanges.||If more than Rs. 1 Lakh per transaction|
|Purchase or sale of services/goods not listed above||If more than Rs.2 Lakh per transaction|
Here you can download the Form 60 PDF by click on the link given below.