WHAT IS FORM 60 ?
Form 60 is the declaration to be furnished by a person who is not able to quote or not having PAN Number ( Permanent Account Number ) in a transaction specified under Rule 114B of Income tax Rules : The transactions are
1. Sale or purchase of a motor vehicle or vehicle which requires registration other than two wheeled vehicles.
2. Opening an account [other than a Basic Savings Bank Deposit Account] with a banking company or a co-operative bank to which the Bank.
3. Making an application to any bank for applying for a credit or debit card.
4. Opening of a demat account .
5. Payment to a hotel or restaurant against a bill or bills at any one time for Payment in cash of an amount exceeding Rs 50,000
6. Payment in connection with travel to any foreign country or payment for purchase of any foreign currency at any one time for Payment in cash of an amount exceeding Rs 50,000
7. Payment to a Mutual Fund for purchase of its units for an amount exceeding Rs 50,000
8.Payment for acquiring debentures or bonds issued an amount exceeding Rs 50,000
9. Cash Deposit with a bank an amount exceeding Rs 50,000
10 . Cash Deposit with Post office an amount exceeding Rs 2, 50,000
11. Purchase of bank drafts or pay orders or banker's cheques from a bank in cash exceeding Rs 50,000 in a day .
12. A time deposit with a bank or a Post Office or a Nidhi company or NBFC for an amount exceeding Rs 50,000 or aggregating to more than Rs 5,00,000 during a financial year.
13. Payment for one or more pre-paid payment instruments for cash payment of an amount exceeding Rs 50,000 or aggregating to more than Rs 5,00,000 during a financial year.
14. Payment of life insurance premium an amount exceeding Rs 50,000 in a financial year
15. A contract for sale or purchase of securities for an amount exceeding Rs 1,00,000
16. Sale or purchase of any immovable property for an amount exceeding Rs 10,00,000
17. Sale or purchase, by any person, of goods or services of any nature for an amount exceeding Rs 2,00,000
1. Sale or purchase of a motor vehicle or vehicle which requires registration other than two wheeled vehicles.
2. Opening an account [other than a Basic Savings Bank Deposit Account] with a banking company or a co-operative bank to which the Bank.
3. Making an application to any bank for applying for a credit or debit card.
4. Opening of a demat account .
5. Payment to a hotel or restaurant against a bill or bills at any one time for Payment in cash of an amount exceeding Rs 50,000
6. Payment in connection with travel to any foreign country or payment for purchase of any foreign currency at any one time for Payment in cash of an amount exceeding Rs 50,000
7. Payment to a Mutual Fund for purchase of its units for an amount exceeding Rs 50,000
8.Payment for acquiring debentures or bonds issued an amount exceeding Rs 50,000
9. Cash Deposit with a bank an amount exceeding Rs 50,000
10 . Cash Deposit with Post office an amount exceeding Rs 2, 50,000
11. Purchase of bank drafts or pay orders or banker's cheques from a bank in cash exceeding Rs 50,000 in a day .
12. A time deposit with a bank or a Post Office or a Nidhi company or NBFC for an amount exceeding Rs 50,000 or aggregating to more than Rs 5,00,000 during a financial year.
13. Payment for one or more pre-paid payment instruments for cash payment of an amount exceeding Rs 50,000 or aggregating to more than Rs 5,00,000 during a financial year.
14. Payment of life insurance premium an amount exceeding Rs 50,000 in a financial year
15. A contract for sale or purchase of securities for an amount exceeding Rs 1,00,000
16. Sale or purchase of any immovable property for an amount exceeding Rs 10,00,000
17. Sale or purchase, by any person, of goods or services of any nature for an amount exceeding Rs 2,00,000