What is PAN Card Form 61: Application & Documentation Process

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.

What Is Form 61 for a PAN card?

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.

When Do You 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:

When you require to sell or purchase any immovable property that amounts to more than ₹ 5 lakhs.
If you need to buy or sell any vehicle that is not a two-wheeler.
When you wish to invest in a Term Deposit.
You require it for the purchase of bank drafts or pay orders
With it, you apply for a credit or debit card.
You want to make a fixed deposit in a post office or a bank with an amount which is more than ₹ 50,000.
If you wish to make a payment associated with travel to any foreign country.
If you want to make payment for a purchase or remittance outside India.
When you need to buy or sell securities which are higher than the amount ₹ 10 lakhs.
In case you are willing to open an account in a recognised bank or a financial institution.
If you are willing to make an application for installing a telephone connection.
When you want to make payments of more than ₹ 20,000 to restaurants and hotels.
For minors whose income is not chargeable to Income Tax according to the Income Tax slabs. In that case, authorities will consider the PAN details of either the parents or a guardian.
When you want to make payment to the Mutual Fund for purchasing its units, or you wish to acquire shares or are willing to accept bonds and debentures.
You want to make payment of the premium of Life Insurance
You want to purchase or sell shares of a company.

What Are the Documents You Need to Provide With Form 61?

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:

Aadhaar Card
Ration Card
Driving Licence
Passport
Valid ID proof from an accredited institution
Copy of electricity or telephone bill less than 3 months
Electoral Photo Identity Card (EPIC)
Any documents issued/provided by State Government, Central Government, or any other local authorities
Any other document that allows verification of the applicant’s address mentioned in the declaration

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.

How to Fill Form 61 Online?

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.

How to Fill Form 61 Offline?

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.

Who Is Applicable to Fill out Form 61?

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:

All those people who have receipts of declaration in Form 60 for transactions
Any person who has raised bills for transactions related to payment of a restaurant or hotel bill or restaurant bills at a time
Any person who is in connection with travel to any other country
A person who wishes to make payment for buying any foreign currency at a time for an amount of more than ₹ 50,000

Now, let us get into the details of the structure of Form 61.

What Is 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:

Your full name and address
The date of birth and name of the father (if it is an individual)
Your correct mobile number (mention it properly)
Details of the transactions and the amount of these transactions
Details, such as the ward number or range where you last filed your Income Tax (If you have been associated with Income Tax)
12-digit Aadhaar card number (if you have it)
Date of form and acknowledgement no. of PAN (if you have applied for it but did not receive it)

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.

How to Submit Form 61?

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

What Is the Due Date for Furnishing Form 61?

You must file Form 61 half-yearly, and the due dates are as follows:

The due date for this declaration of Form 61 that you submit between 1st April and 30th September falls on 31st October of the concerned financial year
Again, the due date of declaration in Form 61, which you provide from 1st October to 31st March falls on 30th April of that financial year in which you provide this form

However, ensure that you are not filing it providing false details.

What Will Happen During Defective/False Filing of Form 61?

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.

FAQs About Form 61 for PAN card

All

What does ITDREIN stand for?

It is a unique 16-character identification number which comes in the format XXXXXXXXXX.YZNNN. Here, XXXXXXXXXX signifies the PAN/TAN of the person or the reporting entity. The Y stands for the code of your form, Z for the Code of the reporting entity category for the Form Code and N for the Code of the sequence number.

Is it mandatory to fill out Form 61?

Form 61 applies to individuals who receive income from agriculture only and don't fall under Income Tax slabs. Therefore, if these individuals do not have a PAN card, they are required to submit Form 61. It is when making any financial transaction.

Can I file Form 61 after the due date?

You need to furnish a statement of financial transactions within the 31st of May of next year for each previous financial year where you made the transactions. Filing past the due date will cause a penalty under Section 271FA, where you have to pay a fine of ₹ 500 per day.

Is Form 61 applicable to foreign nationals?

If you are a foreign national and require to make payments in hotels, or restaurants or want to get a debit or credit card or avail travelling expenses, you need not furnish PAN or Form 61 or Form 60 as well.