Form 60

Relevant Statute

• Section 139A of the Income-tax Act, 1961
• Rule 114B of the Income-tax Rules, 1962

Legal Provision

• Applicable to individuals (not companies/firms) without PAN entering transactions listed in rule 114B , and to foreign companies without PAN entering specified IFSC banking unit transactions.
• Persons specified in rule 114C must verify correctness of PAN or ensure Form 60 is duly furnished with complete particulars.
• PAN or Form 60 details must be properly recorded and linked in information furnished to income-tax or other authorities.
• Form 60 received must be retained for 6 years from the end of the relevant financial year.

Applicable For

• Resident individuals, HUFs, BOIs, AJPs, etc., without PAN, who enter into Rule 114B-specified transactions
• Foreign companies operating through IFSC banking units who:
• Do not have taxable income in India
• Do not have PAN
• Conduct qualifying transactions

Effective From

• Form No. 60 was introduced by the Income-tax (16^th Amendment) Rules, 1998, w.e.f. 1-11-1998

Pre-requisite While Filing the Form

• Not applicable

Due Date

• Not applicable

How to file it

• Manually