Persons not having PAN, entering into transactions which requires quoting of PAN

There are certain transactions for which it is mandatory to submit Permanent Account Number (PAN) to the person with whom we are getting into transaction/reporting person, for example to the registrar or sub-registrar in the case of purchase of land.

In case of such transactions, if the person is having PAN, it is well and good but if the person is not having a PAN then it a matter of little concern.

Then such person has the option of either getting a PAN card issued or the person can also submit Form No. 60. It is to be noted that in case of a minor, who enters to such transaction and does not have income chargeable to income tax act then such individual can quote the PAN of father, mother or guardian.

The second option of submitting Form No. 60 is available with the assessees other than companies and firms.

The form No. 60 can be submitted either physically in paper form or electronically through electronic verification.

As per the CBDT circular, the Form can be submitted online through electronic portal/application approved for transactional facility by the regulator. Yet no such facility has been made available by the CBDT by the time of publishing of this article.

From no. 60 can be downloaded from here.