Form 61 is a form of declaration that is to be filled by an individual who receives income solely from agriculture and is not the recipient of any other income that is taxable, with respect to transactions mentioned in Clauses (a) to (h) Rule 114B.
Form 61 required If PAN Unavailable & Earn from Agriculture
What is Form 61 used for
This form is used in the place of a PAN card with respect to transactions mentioned in Clauses (a) to (h) Rule 114B. These transactions are:
- Purchase or sale of immovable property that is worth over Rs.5,00,000.
- Purchase or sale of vehicles, other than a two-wheeler.
- A fixed deposit that exceeds Rs.50,000 with any bank.
- A fixed deposit account that exceeds Rs.50,000 with the Post Office.
- Contract related to purchase or sale of specified securities that exceed Rs.10,00,000.
- This form is required for opening an account with a bank.
- Applications for installing a telephone connection(includes cellular connection) requires this form.
- Payments that exceed Rs.25,000 to restaurants and hotels.
In case of minors whose income is not taxed, their father’s/mother’s/guardian’s PAN number should be given.
How to Fill Form 61
Form 61 can be procured both online as well as offline. Applicants will have to provide certain information that is required. This includes –
- The name and address of the applicant
- Particulars or details of the transaction
- Proof of address
- Date, place along with the declarant’s signature
Applicants will also have to sign the verification mentioned in the form, stating that all information provided is true, to the best of their knowledge. Information regarding date and place should also be provided.
Form 61 will have to be given during the time of a transaction to the person handling the transactions, such as a manager at the bank.
Documents Required along with Form 61
While providing Form 61, a supporting document to verify their address will have to be provided by the applicant. Documents counted as valid proof of address are as follows:
- Aadhaar card
- EPIC or Electoral Photo Identity Card
- Ration Card
- Driving License
- Passport
- Identity card issued by an institution, containing the applicant’s address
- Recent utility bills (not older than 3 months)
- Communication or document issued by the State Government or Central Government containing the applicant’s residential address.
- Other documents that verify the applicant’s address provided in the declaration
