Indian Bank Form 97 from Download

The provided document details the structure, rules, and requirements for Form No. 97, which is a statutory declaration filed by individuals (or specific non-corporate entities/foreign companies) who do not possess a Permanent Account Number (PAN) when executing financial transactions (Annexure F… p. 1).

• Target Users: Filed by individuals, Hindu Undivided Families (HUF), Association of Persons (AOP), Body of Individuals (BOI), Trusts, Local Authorities, or Foreign Companies who do not hold a PAN (Annexure F… p. 1).
• Income Limit Restriction: The declarant must state that their total estimated income (including income from a spouse or minor child) for the active financial year is below the maximum amount not chargeable to income tax (Annexure F… p. 1).
• Pending PAN Rule: If a PAN has been applied for but not yet generated, the applicant can provide the official date of application and its corresponding acknowledgement number (Annexure F… p. 1).

The form covers six specified high-value financial actions, identified by distinct codes (Annexure F… pp. 2-3):

• Code 01: Purchase, sale, gift, or joint development agreement of immovable property (Annexure F… p. 2).
• Code 02: Opening a bank account (excluding basic savings and time deposits) (Annexure F… p. 3).
• Code 03: Making an investment in a Time Deposit (Annexure F… p. 3).
• Code 04: Commencing an account-based relationship with an insurance provider (Annexure F… p. 3).
• Code 05: Making payments to a hotel, restaurant, convention centre, banquet hall, or event manager (Annexure F… p. 3).
• Code 06: General sale or purchase of any other unclassified goods and services (Annexure F… p. 3).

• If a transaction is held under joint names, the form mandates disclosing the total number of individuals involved (Annexure F… pp. 2-3).
• The declarant must explicitly state their exact percentage share of the transaction (Annexure F… pp. 2-3).
• The exact portion of the transaction executed using cash must be isolated and declared in Part-D (Annexure F… pp. 2-3).

To support the declaration, acceptable identity, address, and date of birth documents are mapped to specific verification functions (Annexure F… pp. 2-3):

• Triple Proofs (Identity, Address, and Date of Birth): Documents like the Elector’s Photo ID card, Driving License, Passport, and Domicile Certificate satisfy all three requirements simultaneously (Annexure F… p. 4).
• Double Proofs (Identity and Address Only): Aadhaar cards, Bank/Post Office passbooks with photographs, Ration cards, and NREGS Job cards serve as valid proof for identity and address, but not for date of birth (Annexure F… pp. 3-4).
• Address-Only Proofs: Utility bills (electricity, water, telephone), piped gas bills, bank account statements, or credit card statements are acceptable only if they are less than 3 months old (Annexure F… p. 4).

• Minors: For transactions in a minor’s name, the declaration must be signed by a parent or guardian, and the parent’s/guardian’s documents satisfy the identity and address requirements (Annexure F… p. 5).
• HUF: Any verified document submitted must be explicitly issued in the name of the Karta of the Hindu Undivided Family (Annexure F… p. 5).
• Foreign Companies: The bank or receiving entity cannot accept this declaration if any taxable income in India is explicitly disclosed on the form (Annexure F… p. 3).

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