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Individuals who receive income solely from agriculture and are not the recipients of any other income that is taxable should fill Form 61 if they do not possess PAN card. PAN card Form 61 is issued by Income Tax Department of India under the supervision Central Board of Direct Taxes. Read on to know more about PAN card Form 61 including its uses, application, documentation requirement and more.
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Table of Content :
What is PAN Form 61?
PAN Form 61 is a document which needs to be duly filled by individuals who receive income solely from agriculture and are not the recipients of any other income that is taxable. Also, individuals who do not possess PAN card need to submit PAN Form 61 while making any of the financial transactions.
How to Apply for Form 61 Online
Here’s how you can apply for PAN Form 61 online
- You have to register for Income Tax Department Reporting Entity Identification Number (ITDREIN) at e-filing portal i.e.https://incometaxindiaefiling.gov.in
- Now, you are required to use the same credentials you used when filed for the Income Tax Return
- Click on ‘Reporting Portal’ link under ‘My Account’ tab for the first time registration
- Now, enter the necessary information like the form type, category, and address of the reporting person
- You must enter the details of the Principal Officer
- After the submission, the ITDREIN will be generated automatically
- The Principal Officer will be informed about the same through an e-mail on his/her registered e-mail address along with an SMS at the registered mobile number
Note: Once the ITDREIN is generated, there is no option to deactivate it.
ITDREIN is a 16-character identification number which is in the format XXXXXXXXXX.YZNNN where XXXXXXXXXX stands for PAN/TAN of the reporting entity or person
Y stands for Code of the form?
Z stands for Code of the reporting entity category for Form Code
N stands for Code of the sequence number
How to Apply Form 61 Offline
To apply Form 61 offline, all you need to do is fill the form correctly and submit it to the bank along with the supporting documents.
Click Here to Download Form 61 in PDF
Uses of PAN Form 61
PAN Form 61 can be used instead of PAN card as per the Rule 114B. Individuals can easily make financial transactions using PAN Form 61. Below mentioned are the uses of Form 61:
| Sale of immovable property | Purchase of immovable property | Sale of a motor vehicle |
| Purchase of motor vehicle | Investment in Time deposit | Deposit in cash |
| Sale of securities | Purchase of securities | Payment to hotel |
| Account with balance exceeding Rs. 50,000 | Purchase of bank drafts or pay orders | Application for issue of a credit or debit card |
| Opening an account (other than savings and time deposit) | Payment in connection with travel to any foreign country | Payment for purchase, or remittance outside India |
| Payment to Mutual Fund for purchase of its units | Payment for acquiring shares | Payment for acquiring debentures or bonds |
| Payment as life insurance premium | Sale of shares of a company | Purchase of shares of company, etc. |
Documents Required for PAN Form 61
Individuals are supposed to submit one of the supporting documents mentioned below to provide proof of identity or address along with Form 61. Some valid documents that can be submitted include:
- Aadhaar Card
- Driving License
- Passport
- Ration Card
- ID proof from an accredited institution
- Copy of the electricity bill or telephone bill
- Any document issued by Central Government, State Government or any local bodies.
- Any documented proof related to the address mentioned in the form.
Important Points to Keep in Mind for Filling Form 61
Before filling up PAN Form 61, individuals should know the details to be filled in order to submit the form successfully. Given below are the key details that you need to fill in PAN Form 61:
- Full name and Address of the declarant
- Date of birth of the declarant and name of Father (in case of individual)
- Full Address of the declarant with mobile number
- Particulars of the transaction and the amount of the transaction
- If you have been assessed to tax then mention your details of Range, Ward or Circle where you had last filed IT
- Mention your 12-digit Aadhaar card number, if issued
- Date of application and acknowledgment number of PAN if applied and not received yet
Individuals should carefully fill PAN Form 61 without making mistakes or overwriting on the form and declare that the source of income is only from agriculture.
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FAQs on PAN Form 61
Q. Who must file Form 61A?
Ans. PAN Form 61A is required to be submitted by notified taxpayers for the applicable financial year.
Q. What is the due date/time limit to file Form 61A?
Ans. The due date/time limit to file Form 61A is within the 30 days from the date of service of notice issued to any person to file the statement.
Q. What will happen in case of defective filing of form 61A?
Ans. In the case of defective filing of form 61A, you are required to report to the concerned income tax authority within 10 days to avoid any penalties. However, you are given the time frame of 30 days from the date of intimation to rectify the information in form 61A.
Q. Is it mandatory to file Form 61A?
Ans. No, it is not mandatory to file Form 61 A under section 258BA.
Q. What is Rule 114E?
Ans. The Income Tax Rules, 1962 specifies that Rule 114E is the statement of financial transaction which is required to be submitted under the sub-section (1) of section 285BA of the Act shall be furnished in Form No. 61A
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