Procedure for Submission of Form No.60 Who Does Not Have PAN

DGIT(S)/ADG(S)-2/Form 60 Digitization/151/2018

Government  of India

Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems)

Notification No. 1 of 2018

New Delhi, 5th April, 2018

Procedure  for  submission  of  Form  No.  60  by  any  person  who  does  not have  a Permanent Account Number and who enters into any transaction specified  in  Rule 114B of the Income-tax Rules, 1962

As per second proviso of Rule 114B (Transactions  in relation to which Permanent Account  Number  is to be quoted  in all documents  for the purpose  of clause  (c) of sub- section  (5) of section  139A of the Income-tax  Rules, 1962 (hereunder  referred  to as the Rules), any person who does not have a Permanent Account Number and who enters into any  transaction  specified  in  this  rule,  shall  make  a declaration  in Form  No.  60  giving therein the particulars  of such transaction either in paper form or electronically  under the electronic verification code.

2. As per sub-rule (1) of Rule 114D (Time and manner in which persons referred to in Rule 114C shall furnish  a statement  containing  particulars  of Form No. 60), the persons referred to in clauses (a) to (k) of sub-rule (1) of Rule 114C and sub-rule (2) of Rule 114C shall  furnish  a statement  in Form  61  containing  particulars  of  declarations  received  in Form 60 to the Director of Income-tax  (Intelligence  and Criminal Investigation)  or the Joint Director     of Income-tax (Intelligence     and    Criminal     Investigation)     through     online transmission  of  electronic  data  to  a server  designated  for  this  purpose  and  obtain  an acknowledgement numbe

3. Rule  114B  of the Income-tax  Rules,  1962,  provides that the declaration  in Form No.60  can  be  submitted   either  in  paper  form  or  electronically   under  the  electronic verification   code  in  accordance   with  the  procedures,   data  structures,   and  standards specified by the Principal Director General of Income-tax  (Systems) or Director General of Income-tax (Systems).

4. In exercise of the powers delegated  by Central Board of Direct Taxes (‘Board’)  under Rule 114B  of the Income-tax  Rules,  1962,  the Principal  Director  General  of Income-tax (Systems) hereby lays down the following procedures for submitting Form No. 60.
5. 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 under Rule

114B of the Income-tax  Rules, 1962, shall either submit Form No. 60 physically  in paper form as per the existing procedure or electronically  using electronic verification  as per any of the procedure stated in para 6.

6. Under  electronic  verification,  the 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 under  Rule  114B  of the Income-tax  Rules,  1962,  shall  make  a declaration  in Form No. 60 giving therein the particulars  of such transaction  electronically using electronic verification.

a) The electronic verification can be enabled using electronic portal/application approved for transactional facility by the regulator

b) The electronic  verification   can  also  be  enabled  using  any  of  the  following specified Aadhaar Authentication  methods:

  1. Type 2  Authentication   –  Authentication   of  residents  through  One- Time-Password (OTP) delivered  to resident’s  mobile number  and/or e-mail address present in CI
  2. Type 3 Authentication – Authentication  of residents  using one of the biometric modalities, either iris or fingerprint
  3. Type 4 Authentication  – Authentication  of residents using 2-factor authentication  with OTP as one factor and biometrics  (either  iris or fingerprint) as the second factor.
  4. Type 5  Authentication   –  Authentication   of  residents   using  OTP, fingerprint & iris together.

7. The  person  using  electronic  method  of  submitting  Form  No.  60  and  electronic verification  using any of the methods listed above, may submit Form No. 60 in paper form where electronic verification is not possible due to Information Technology related issues.

8. The person responsible  for collecting  Form No. 60 for specified transactions  under

Rule 114B of Income-tax Rules, 1962 shall follow the below mentioned procedure

  1. In cases where  the requirement  for furnishing  of a PAN  or Form  No. 60 are triggered  in multiple  transactions  during  a financial  year relating  to the same person, the person responsible for collecting Form No. 60 may collect only incremental   information   provided   the  linkage   of  subsequent   transaction   is established    with  the  earlier   captured   information   for  which   an  initial  consent shall   be  obtained   from   the  declarant   of  Form   No.   60.   Details   of  each  such transaction   shall  be required  to be reported  in Form  No.  61 as per Rule  114D of the  Income-tax   Rules,   1962.
  2. Every  declaration   in Form  60  should  be assigned  a unique  number.
  3. In case  multiple   Form  No.   60  are  submitted   during   the  financial   year,   and  the person/transaction    becomes   reportable   in Form  No.61A,    the  acknowledgement number  of the last submitted   Form  No.  60 shall  be mentioned   in Form  No.
  4. In case  the  specified   transaction   is handled   by more  than  one  regulated   entity (e.   payment   bank,  partner  bank),  the  electronic   transmission    of Form  No.  60 from  the  first  regulated   entity   (payment   bank)  to  the  second   regulated   entity (partner  bank)  will  be considered   as a valid  submission   to the second  regulated entity  provided   it is transmitted   with  the  consent   of the  declarant   of  Form  No. 60.

9. Security, archival and  retrieval policies: The reporting person is required to   document   and   implement   appropriate   information   security   policies   and procedures  with  clearly  defined  roles and  responsibilities  to  ensure  security  of submitted  information and related information/documents. The reporting person is also required to document and implement appropriate archival and retrieval policies and  procedures  with  clearly  defined  roles  and  responsibilities  to  ensure  that submitted information and related information/documents are available promptly to the competent authorities.

(Harish Kumar)

Pr.   GIT (Systems), CBDT


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9. The  Institute  of Chartered   Accountants   of India,   IP Estate,   New Delhi.

10. Web Manager,   “       ‘for   hosting  on the website.

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