Ask a Question
I recently went to my bank for a financial transaction and was asked to provide PAN or Form 60. I have never had a PAN card, so I was confused about what Form 60 actually means.
From what I understand, Form 60 is some type of declaration for people who don't have a PAN but need to complete certain transactions where PAN is normally required. I'm not sure whether it is an alternative to getting a PAN card or whether it is only meant for specific situations.
I also found older information online saying that Form 60 is used under Rule 114B of the Income-tax Rules, 1962. But since the new Income-tax Act, 2025 and Income-tax Rules, 2026 came into effect from April 1, 2026, I'm wondering whether the rules have changed.
Does Form 60 still apply in 2026, or has it been replaced?
If it has been replaced, what form should someone without PAN use now? Also, does this apply to NRIs or foreign citizens who don't have an Indian PAN?
I'd appreciate some clarification from anyone who has recently dealt with a bank or other financial institution regarding this.
Yes, I think this is where the confusion comes from. I searched for Form 60 because my bank staff used that term, but most of the articles I found were written before April 2026.
The current Income Tax Department information says that a person without PAN can make a declaration in Form 97 for specified transactions under the new rules. A company or firm cannot use Form 97 instead of PAN.
So I wouldn't simply download an old Form 60 and submit it without checking which framework applies to the transaction.
The actual transaction also matters because the new Rule 159 specifies which transactions are covered. Some transactions may require the person to apply for PAN rather than simply furnish the declaration.
I had the same question recently. The important thing is the date and which tax law applies.
Under the earlier Income-tax Act, 1961 framework, Form 60 was the declaration used by a person who did not have PAN and entered into certain specified transactions under the applicable rules. The Income Tax Department's older Rule 114B specifically provided for Form 60 in such cases.
However, the rules changed from April 1, 2026 with the Income-tax Act, 2025 and Income-tax Rules, 2026.
The Income Tax Department now says that Form 97 replaces Form 60 under the new framework for persons who do not have PAN and enter into transactions covered by Rule 159(2).
So a lot of websites still mentioning Form 60 may simply be referring to the previous rules.
Share Your Thoughts and Connect with Others.
I moved from India to the UK a few years ago and recently realised that the address associated with my PAN is still my old Indian residential address. My PAN...
I am an NRI living in the USA and need to apply for an Indian PAN for some financial and tax-related transactions in India. I have never had a PAN...
I am an NRI currently living in Canada, and I recently lost my Indian PAN card while travelling. My PAN number is still active and I have used it for...
I’m an NRI and want to update my PAN details because my status has changed from resident to non-resident. I’ve also become an Australian citizen. I already updated my residential...
Hi everyone, I want to apply for PAN cards for my husband and daughter, and both are NRIs. My daughter is a minor, so I’m also wondering whether her application...
I’m currently living in the UAE and planning to move back to India permanently later this year. I’ve been an NRI for several years and want to get my paperwork...
I’m trying to file my income tax return for AY 2026–27, but I recently discovered that my PAN is showing as “inoperative.” I’m an Indian citizen living in Canada and...
I’m an Indian citizen currently living in the UK and need to apply for a PAN card for some financial and tax-related work in India. The problem is that I...
I’m an Indian citizen living in the UK and have been an NRI for several years. I recently started looking into getting an Aadhaar card for NRIs because I still...
I moved from India to the US a couple of years ago and recently realized that I may need to update my details on the Income Tax e-Filing portal. My...
Let Savetaxs guide you to the perfect solution for all your queries.
One other thing to keep in mind is that Form 60/97 isn't a general substitute for PAN.
It is connected to specified transactions where PAN is normally required. The current rules distinguish between transactions where a person without PAN can furnish the declaration and transactions where the person is required to apply for PAN.
For example, the current Income Tax Department FAQ lists several specified transactions involving banking, securities, immovable property, time deposits and other high-value transactions. It says that a person without PAN entering into the relevant transactions can make a declaration in Form 97.
So I'd first identify the transaction and then check the applicable 2026 rule rather than treating Form 60 as a universal PAN replacement.