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Download Form 60 for NRI: A Step-by-Step Guide


Form 60 for NRI: What is it and How to Download it




Introduction




If you are a non-resident Indian (NRI) and you want to open a bank account or make certain transactions in India, you may need to submit a declaration called Form 60. This form is used by people who do not have a Permanent Account Number (PAN) or who have applied for PAN but have not received it yet. In this article, we will explain what is Form 60, who needs to submit it, when is it required, how to fill it, and how to download it. We will also compare it with another form called Form 61, which is also used by some NRIs.




form 60 for nri download


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What is Form 60?




Form 60 is a declaration that must be submitted by an individual or a person (except company or firm) who does not have a PAN and who enters into any transaction specified in Rule 114B of the Income Tax Rules, 1962. These transactions include opening a bank account, buying or selling property, investing in funds, foreign travel, etc. Form 60 is not a substitute for PAN, but a way of providing PAN in some cases. Some of the transactions that require Form 60 are:



  • Opening an account with any banking institution or bank other than basic savings deposit account



  • Opening a demat account



  • Purchase or sale of an immovable property valued at Rs.10 lakh or more



  • Purchase or sale of any motor vehicle excluding two wheelers



  • Payment to hotels or restaurants in cash exceeding Rs.50,000 at one time



  • Payment in connection with travel to any foreign country or purchase of any foreign currency in cash exceeding Rs.50,000 at one time



  • Purchase of mutual funds, bonds, debentures, or RBI bonds exceeding Rs.50,000 at one time



  • Payment of life insurance premium exceeding Rs.50,000 in a year



  • Sale or purchase of shares or securities exceeding Rs.1 lakh per transaction



  • Time deposit or fixed deposit with any bank, post office, NBFC, Nidhi company exceeding Rs.50,000 at one time or Rs.5 lakh in a financial year



Who needs to submit Form 60?




Form 60 is required to be submitted by any person who does not have a PAN and who enters into any of the above transactions. This includes NRIs who do not have a PAN or who have applied for PAN but have not received it yet. However, if the total income of the person (other than agricultural income) exceeds the basic exemption limit (Rs.2.5 lakh for individuals below 60 years, Rs.3 lakh for individuals above 60 years but below 80 years, and Rs.5 lakh for individuals above 80 years), then Form 60 is not acceptable. In such cases, the person must apply for PAN and mention the date of application and acknowledgement number in column 21 of Form 60.


When is Form 60 required?




Form 60 is required to be submitted at the time of entering into any of the transactions specified in Rule 114B that require PAN. For example, if an NRI wants to open a bank account in India without having a PAN card, he/she must submit Form 60 along with the account opening form and other documents. Similarly, if an NRI wants to buy or sell property in India without having a PAN card, he/she must submit Form 60 along with the property registration form and other documents. Form 60 must be submitted within the prescribed time limit, which is usually the same as the time limit for filing the return of income for that financial year. For example, for the financial year 2022-23, the due date for filing the return of income is 31st July 2023, and hence Form 60 must be submitted by that date.


How to fill Form 60




Form 60 is a simple form that can be filled online or offline. It consists of two parts: Part A and Part B. Part A contains the personal details of the person submitting the form, such as name, address, date of birth, gender, occupation, etc. Part B contains the details of the transaction for which Form 60 is being submitted, such as nature and value of transaction, mode of payment, name and address of the other party, etc. The person must also sign and date the form and mention the place of submission. Here are some of the information required in Form 60:


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Form no. 60 download pdf format for non-resident indians (nris)


Download form no. 60 declaration by person who does not have a permanent account number (pan) and who enters into any transaction specified in rule 114b of the income-tax rules,1962 (for non-resident indians)


Download form no. 61 declaration by person who is not assessed to tax and who receives any sum or income or amount on which tax is deductible under chapter xvii-b of the income-tax act,1961 (for non-resident indians)


Download form no.61a statement containing particulars of declaration received in form no.61 (for non-resident indians)


Download form no.61b annual information return under section 285ba of the income-tax act,1961 (for non-resident indians)


Download form no.15g declaration under sub-sections (1) and (1a) of section 197a of the income-tax act,1961, to be made by an individual or a person (not being a company or a firm) claiming certain receipts without deduction of tax (for non-resident indians)


Download form no.15h declaration under sub-section (1c) of section 197a of the income-tax act,1961, to be made by an individual who is of the age of sixty years or more claiming certain receipts without deduction of tax (for non-resident indians)


Download form no.15ca information to be furnished under sub-section (6) of section195 of the income-tax act,1961 relating to remittance of payments to a non-resident or to a foreign company (for non-resident indians)


Download form no.15cb certificate of an accountant under sub-section (6) of section195 read with rule37bb of the income-tax rules,1962 (for non-resident indians)


Information required in Form 60





  • Name and address of the person submitting Form 60



  • Father's name (in case of individual)



  • Date of birth (in case of individual)



  • Gender (in case of individual)



  • Occupation or business or profession



  • Aadhaar number (if allotted)



  • Email ID and mobile number



  • Whether assessed to tax (if yes, mention ward/circle where last assessed)



  • Estimated total income (including agricultural income) for the financial year in which the transaction is made



  • Nature and value of transaction



  • Date of transaction



  • Mode of payment (cash/cheque/draft/credit card/electronic transfer/others)



  • Name and address of the person with whom the transaction is made



  • If applied for PAN, mention application number and date



  • If PAN not applied, mention reason for not obtaining PAN



Documents to be attached with Form 60




The person submitting Form 60 must also attach a copy of any one of the following documents as proof of identity and address:



  • Aadhaar card



  • Voter ID card



  • Passport



  • Driving license



  • Ration card



  • Bank account statement or passbook



  • Credit card statement



  • Electricity bill or telephone bill or water bill or gas connection card or bill



  • Employer's certificate or ID card issued by a government department or public sector undertaking



  • NRI status proof such as passport copy, visa copy, overseas bank account statement, etc.



How to download Form 60




Form 60 can be downloaded from the official website of the Income Tax Department at . The person must register on the portal using his/her Aadhaar number or email ID or mobile number and then login to access the services. The person can then select "Submit Forms" under "e-File" menu and choose "Form 60" from the drop-down list. The person can then fill in the required details and upload the supporting documents. The person will receive a confirmation message and an acknowledgement number after successful submission.


Difference between Form 60 and Form 61




Form 60 and Form 61 are both declarations that are used by people who do not have a PAN or who have applied for PAN but have not received it yet. However, there are some differences between them in terms of who can use them and when they are required. Here are some of the differences:


What is Form 61?




Form 61 is a declaration that must be submitted by an individual who does not have a PAN and who has only agricultural income as his/her source of income. T


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