Form 61 Income Tax: When and How to Fill Form 60/61

Form 61 is a document that needs to be filed by an individual who has no other taxable income other than earnings from agriculture. If an individual does not possess a Permanent Account Number (PAN) card, they will be required to fill out this declaration form to carry out financial transactions covered under Clauses (a) to (h) of Rule 114B of the Income Tax Act, 1962. The Income Tax Department issues Form 61 under the supervision of the Central Board of Direct Taxes (CBDT).

What is PAN Form 61?

Form 61 or PAN (Permanent Account Number) Form 61 is a form that is used to apply for a new Permanent Account Number (PAN) from the Indian Income Tax Department. This form is issued by the Central Board of Direct Taxes (CBDT). It is a mandatory document for individuals, companies, firms, and other entities to be able to pay their taxes and legally maintain their financial records. It was introduced in 1995 to facilitate the identification of taxpayers and to link all financial transactions with a single PAN number.

Uses of PAN Form 61

Here are the enlisted utilises of PAN Form 61 holds to facilitate the users: 

1. Applying for a new PAN card. 
2. Making changes to an existing PAN card. 
3. Applying for a duplicate PAN card. 
4. Applying for a corrected PAN card. 
5. Applying for a new PAN card for a minor. 
6. Applying for a PAN card for a non-resident Indian (NRI). 
7. Applying for a PAN card for an association of persons (AOP). 
8. Applying for a PAN card for a body of individuals (BOI). 
9. Applying for a PAN card for a company. 
10. Applying for a PAN card for a trust.

As a minor’s income is not taxed, the PAN card of their parent or guardian must be provided.

How to Apply Form 61 Online?

Pan 61 Income Tax can be applied in the easiest and most stress-free method, which is via the internet. We have dropped the quickest steps to apply Form 61, so you never come across the struggle of how to fill out a 60/61 Form:

• Applying for Form 61 Income Tax is a simple method all applicants can fill up.
• Form 61 will be filled on the Income tax e-filing portal after generating ITDREIN (Income Tax Department Reporting Entity Identification Number). 
• ITDREIN is a 16-character identification number in the format XXXXXXXXXX.YZNNN, where: XXXXXXXXXX stands for PAN/TAN of the reporting entity. 
• Y stands for the code of Form code Z- Code of reporting entity category for Form code. NNN- Code of the sequence number.

How to Apply for Form 61 Offline? 

If technicality is not your cup of tea, an offline saviour is always there. You have to get this right only by visiting the nearby branch. Follow the exact details, so you do not have to face any challenges there: 

• Full name of the applicant as per identity documents, resident address, date of birth, father’s name, mobile number, details and amount of the transaction, and details of the application. 
• An acknowledgement number of PAN (if not yet received by the applicant) must be provided. 
• The applicant must also sign and verify the form, declaring that all the information provided is accurate to the best of their knowledge.

Documents Required for PAN Form 61

PAN Form 61 is a formal document that needs certain document submissions before you could submit it successfully. Check out the formalities below for a quick understanding: 

• Aadhar Card
• Driving License 
• Voter id card 
• Utility Bills for the last three months 
• Ration card 
• Passport 
• The document having the residential address of the claimant issued by the State or Central Government.

How to Submit or Fill Form 60/61?

The steps defined below are the guidance towards filling and submitting Form 61 Income Tax: 

• To submit form 61 Income Tax, the applicant must be careful about the details they fill in each column. 
• Interestingly, Form 61 submission can be made online and offline. 
• Ensure the information you provide matches with the government documents you will submit. 

Note: Form 61 pdf gets forwarded to the Director of Income Tax or the Joint Director of Income Tax by the e-data or via the cloud database after the successful submission. An acknowledgement number is sent to the applicants for future reference. 

Important Points to Keep in Mind While Filling Form 61

Here are the things to be cautious about by the applicants while filling out Form 61 pdf:

1. Read the instructions carefully: The first and foremost step in filling out Form 61 is to read the instructions carefully. The instructions will provide valuable information about the purpose of the form, the types of documents required, and the deadlines for submission. This will help ensure that all the necessary information is provided accurately and on time. 
2. Provide accurate information: It is important to provide accurate information when filling out Form 61. Any incorrect information provided can result in delays in processing and potential penalties. Therefore, it is important to double-check all information before submitting the form. 
3. Keep supporting documents handy: It is important to keep them handy when filling out Form 61. These documents may include bank statements, proof of income, and other documents necessary to verify the information provided on the form. 
4. Double-check before submitting: Before submitting Form 61, it is important to double-check all the information that has been provided. This includes ensuring that all required documents have been submitted, all information is accurate, and all deadlines have been met. 

Difference Between Form 60 and Form 61

Form 60 is the official document the Income Tax Department issued for individuals who do not have a PAN Card but wish to enter into financial transactions under Rule 114B. Individuals who do not have a General Index Register Number but are willing to make cash transactions must submit Form 60. 

Form 61 must be submitted by an individual whose income is only obtained from the agricultural sector or any form of employment and who has no taxable income. Individuals from the agricultural sector willing to engage in financial transactions are mandated to submit Form 61 under Rule 114B.

End Thoughts

PAN Form 61 is an official document that has to be availed necessarily by taxpayers from the agricultural sector of India. It not only allocate your finance to a credible place but also saves your money at the utmost criteria.