People who receive income from agriculture and do not have any other income receipt that is chargeable under the Income Tax Law are required to file Form 61. They need to do this for certain transactions, and if they do not have a PAN card to conduct the transactions.
If you are one of them and want to know the details of filling out Form 61 for PAN card (modified), navigate through this write-up below.
The Income Tax Department of India uses Permanent Account Number or PAN to trace down any financial transaction made by an individual at any point in time. If an individual does not have a PAN Card and belongs to an income group that is not chargeable to Income Tax, they need to fill in Form 61.
The Income Tax Department of India issues this document through the Central Board of Direct taxes. This document is submitted while making any financial transaction within this country.
Now that you know what Form 61 is, let us know when a person must need Form 61.
According to Rule 114B, Form 61 is a crucial document that can be opted for as an alternative to a PAN card, and you can easily use it to make necessary financial transactions. Here is when you can use this document:
Before you submit Form 61, you must provide certain documents, such as address and identity proof, along with the application form. Here are some of the documents you need when filling out this document:
However, any document provided by the applicant as address proof needs to be self-attested. Now, let us understand how to fill out Form 61 online and offline.
Filling in Form 61 is a simple and hassle-free procedure and requires minimal time. However, it is necessary to fill in every detail appropriately, and you also need to check your name, address details, and phone numbers before submitting these documents. This will reduce any mistakes.
You can fill this document through online and offline methods. Here is a step-wise guide on how you can fill in Form 61 online:
Step 1: First, you must register in Income Tax Department Reporting Entity Identification Number or ITDREIN at the e-filing portal
Step 2: Next, you need to use the similar credentials that you used while filing your Income Tax Return
Step 3: Now, click on ‘Reporting Portal’ that you will find under ‘My Account’ if you are registering for the first time
Step 4: Then, enter all necessary information such as the type of the form, the category you are applying to, address of a reporting person.
Step 5: Now, enter the details of the Principal Officer.
Step 6: As you submit this document, it will generate the Income Tax Department Reporting Entity Identification Number or ITDREIN automatically.
After you receive ITDREIN, the Principal Officer will be informed regarding this via an e-mail on their registered e-mail address. They will also receive a message on their registered mobile number.
It is also important to note that once you get ITDREIN, you will find no option to deactivate the same. Also, if you don’t want to file Form 60 online, here is how you can do this offline as well.
If you wish to fill in Form 61 offline, you need to follow the below steps:
Step 1: Collect Form 61 from any reputed recognised centralised bank.
Step 2: Now, fill it duly mentioning the name, address and all details necessary.
Step 3: Then, after double-checking, submit it to an authorised bank along with the additional essential documents.
Rule 114D explains the time and process for which such declarations are received in Form 60 by all declarants that you require to file with the Income Tax Department. Subsequently, you need to submit all these details in Form 61. In short, this document is a statement that consists of all credentials of declaration that you receive in Form 60.
Below are the individuals who require to submit Form 61:
Now, let us get into the details of the structure of Form 61.
Before you fill in Form 61, you must understand its structure correctly so that it becomes hassle-free and easy when you are filling in these details. The columns of Form 61 include:
While filling in these details, ensure you refrain from overwriting this form or making unnecessary mistakes. Additionally, you must mention that your source of income is solely from agriculture which is not taxable.
The final stage is submitting your form, but you must always check it thoroughly before submitting it to the officials.
You can submit this document by following these steps:
Step 1: You must furnish Form 61 to the Director of Income-tax or the Joint Director of Income-tax
Step 2: This you must do online through a server which is associated for this purpose only or through electronic data
Step 3: You will receive an acknowledgement number after submitting
However, the Income Tax Department has provided a new reporting portal where the registration, uploading of statements and related facilities for Form No. 61, 61A and 61B, respectively, have transferred from the e-filing section to the reporting section.
Well, it is also mandatory to note down the due date of filing Form 61
You must file Form 61 half-yearly, and the due dates are as follows:
However, ensure that you are not filing it providing false details.
If there is a defective filing of Form 61, you must report this situation to the respective Income Tax Authority. Also, make sure to do this within 10 days so that there is no penalty. After this, you get 30 days starting from the intimation date that allows you to rectify any information that you have provided in this form.
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