Declaration in Form 60

Declaration in Form 60

Form for declaration to be filed by an individual or a person (not being a company or firm) who does not have a permanent account number and who enters into any transaction specified in rule 114B

Applicable Rule: 114B

Every person should quote PAN in all transactions specified below:

Where any of the above transaction is entered by a minor, he shall quote the pan no of either of his parents.

Provided that where a person does not have a pan and enters into any transaction specified above, he shall make a declaration in Form No.60 giving therein the particulars of such transaction.

The provisions of this rule will not apply to:

  • Central Government/ State Government/Consular Offices
  • Non residents w.r.t. transactions other than those in S.no. 1 or 2 or 4 or 7 or 8 or 10 or 12 or 14 or 15 or 16 or 17 of the Table

Due Date:

The due date for the declaration in Form 60 to concerned Director/ Joint Director is : received during 1st April to 30th September – 31st October of the same year and received from 1st October to 31st March is 30th April of the following Financial Year in which the form is received.

False Declaration in Form 60:

Amount < Rs. 25 lacs – imprisonment from three months to two years along with a fine can be imposed. 

Amount> Rs. 25 lacs – imprisonment from six months to seven years along with a fine can be imposed.

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