Filing of Form no. 61 on Reporting Portal

Form No. 61 is a declaration by the people who have received Form No. 60. Form No. 60 is submitted by people who doesn't have PAN and enters into transactions that require quoting of PAN.

To know more about Form No. 60, read previous article Persons not having PAN, entering into transactions which requires quoting of PAN.

Form No. 61 is to be submitted half-yearly, for

• Declarations under Form No. 60 received till 30th September, it is to be submitted till 31st October of that year, and

• Declarations under Form No. 60 received till 31st March, is to be submitted till the upcoming 30th April.

Form No. 61 can only be filed through electronic means that is through the reporting portal designated for reporting purposes only. The reporting portal is report.insight.gov.in.

Registration on the reporting portal

As per the notification no. 2 of 2018 for this purpose, already registered reporting persons/entities have been migrated from e-filing portal to Reporting Portal. The registered users of such reporting persons/entities shall be communicated of their new login credentials through their registered E-Mail IDs to be used at Reporting Portal. There is no need of registering again for such persons/entities.

While, new reporting persons/entities are required to get registered with the Income Tax Department by logging in to the e-filing website (incometaxindiaefiling.gov.in) with the log in ID used for the purpose of filing the Income Tax Return of the reporting person/entity. The reporting person/entity needs to click on “Reporting Portal” link under “My Account” tab at e-filing portal to access ‘Reporting Portal’ for first time registration. (The user will automatically be redirected to the reporting portal). The reporting persons/entities will mandatorily be required to enter the details of the form type to be submitted, category and their address along with details of Principal Officer to complete the registration process.

The Principal Officer given here will have the meaning as given in the Income Tax Act. In usual terms, principal officer will be the person overseeing the management and administration of the entity who will be responsible for taking care of notices served by the IT department and in case of individual, the person himself.

Submission of the Form

The prescribed schema, Report Generation and Validation Utility for Form No. 61 and Generic Submission Utility can be downloaded from the Reporting Portal under “Resources” tab. The prepared Statement to be filed is required to be digitally signed by and uploaded at the Reporting Portal or through Generic Submission Utility through the login credentials (PAN and password) of the Principal Officer. On successful submission, the Income Tax Department Reporting Entity Identification Number (ITDREIN) is generated and the Principal Officer will receive a confirmation e-mail on his/her registered E-Mail address and SMS at his/her registered mobile number. There will be no option to de-activate ITDREIN, once it is generated.

Correction in filed Form No. 61

In case, the reporting person/entity comes to know or discovers any inaccuracy in the information provided in the statement or the defects have been communicated to the reporting person/entity through "Data Quality Report (DQR)" after submission of Statement, it is required to remove the defects by submitting a correction statement. The number of “Reports Requiring Correction (RRC)” will be visible against the original statement on Reporting Portal under the ‘Statement Pending for Correction’ tab. The user can download the DQR file from the DQR column under ‘Statements Pending for Correction’ Tab of Reporting Portal, which can then be opened on the Report Generation utility to find and fix the errors. The reporting person/entity needs to rectify all the defects till the number of RRC becomes zero within the specified period.

In case, the reporting person/entity wishes to delete the inadvertently filed reports within a statement, it can choose the statement type as “Deletion Statement” and file all such reports within a single statement to be deleted with exact previously filed values against within a single statement to be deleted with exactly previously filed values against each field.

The manner of filing "Deletion statement" shall be similar to submission of correction statement.