PNB Bank FORM NO.60 from Download

PNB Bank FORM NO.60

Based on the provided Punjab National Bank Form No. 60 (p. 2), here are the key points you need to know:

Exemption from PAN: It is a declaration filed by individuals or specific entities (excluding companies and firms) who do not possess a Permanent Account Number (PAN) (p. 2).
Regulatory Compliance: It allows individuals to conduct specific, high-value financial transactions outlined under Rule 114B of the Income-tax Rules, 1962 (p. 2). [1]

Personal & Contact Details: Full name, date of birth, father’s name, complete residential address, mobile number, and telephone number (p. 2).
Transaction Specifics: Exact amount of the transaction in Rupees, date of the transaction, and the number of joint owners involved (if applicable) (p. 2).
Mode of Payment: Selection of transaction type among Cash, Cheque, Card, Draft/Banker’s Cheque, Online transfer, or Others (p. 2).
Aadhaar Number: Must be declared explicitly if it has already been issued to you by the UIDAI (p. 2).
Income Disclosures: Estimated agricultural and non-agricultural income for the financial year in which you are executing the transaction (p. 2).

Identity and Address Proof: You must specify the official document code, identification number, and the issuing authority for your supporting proofs (p. 2).
Aadhaar Status: An Aadhaar Card (Document Code 01) acts as valid proof for both identity and address (p. 4).
Dual Proofs: Voter ID, passport, driving license, and bank/post office passbooks with photos serve as valid proof for both identity and address (p. 4).
Address Only Proofs: Utility bills (electricity, water, landline telephone, piped gas) and bank account statements can only be used as proof of address, provided they are not more than 3 months old (p. 4).

PAN Application Link: If your estimated total taxable income exceeds the maximum tax-exempt limit, Form 60 will not be accepted unless you have applied for a PAN and can provide the application date and acknowledgement number (pp. 2, 4).
Minor Accounts: For transactions belonging to a minor, the form must be signed by a parent or guardian using their own identity and address proofs (p. 4).
Legal Penalty for False Data: Giving a false statement in this declaration triggers prosecution under Section 277 of the Income-tax Act, 1961 (p. 2).
- If the tax sought to be evaded exceeds ₹25 Lakhs, it carries rigorous imprisonment from 6 months up to 7 years plus a fine (p. 2).
- In other cases, it carries rigorous imprisonment from 3 months up to 2 years plus a fine (p. 2).

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