Form 61 - Meaning, How to Fill, Submit & Download Form

• Form 61 is a declaration form used by individuals who earn their income from the agricultural department and do not earn any kind of taxable income.
• Form 61 can be used for the purchase or sale of immovable property worth over ₹5,00,000, purchase or sale of vehicles, opening a bank account, etc.
• You can apply for Form 61 by visiting the e-filing portal and obtaining the Income Tax Department Reporting Entity Identification Number.

Form 61 is a declaration form used by individuals who earn their income from the agricultural department and do not earn any kind of taxable income. Moreover, individuals who do not possess a PAN (permanent account number) card need to submit Form 61 while making any of the financial transactions.This form is issued by the Income Tax Department of India and consists of basic details such as your name, particulars of the transaction, details of the documents which is filled up and duly signed by the applicant.In this blog, you will read about how to apply for Form 61, its uses, and more.

The steps to apply for Form 61 online are mentioned below:

• Step 1: Visit the e-filing portal to register to get the Income Tax Department Reporting Entity Identification Number (ITDREIN).
• Step2: Use the same credentials that you use to file your Income Tax Return to login.
• Step3: To register for the first time, select the 'Reporting Portal' option under the 'My Account' tab.
• Step4: Enter the required information, including the form type, category, and the reporting person's address.
• Step5: Enter the details of the Principal Officer.
• Step6: The ITDREIN will be created automatically after submission.

The Principal Officer will be notified via e-mail and an SMS on their registered mobile number.

Form 61 is used in the place of a PAN card as per the Rule 114B of the Income Tax Act. It is used for the following transactions:

• Purchase or sale of immovable property worth over ₹5,00,000.
• Purchase or sale of vehicles (excluding a two-wheeler).
• A fixed deposit account that exceeds ₹50,000 with the Post Office.
• A fixed deposit that exceeds ₹50,000 with a bank.
• Contract related to purchase or sale of specified securities exceeding ₹10,00,000.
• Opening an account with a bank.
• Applying for installation of a telephone connection.
• Payments that exceed ₹25,000 to restaurants and hotels.
• Payments to mutual funds for unit purchases.
• Payment for life insurance premium.
• Buying bank drafts or pay orders.
• Payments for travelling abroad.
• Stock acquisition payments.
• Request for the issuance of a credit or debit card.
• Payment for purchasing debentures or bonds.
• Buying shares in a company.
• Purchase or remittance payments made outside of India.

Form 61 can be procured both online and offline. You will need to provide the following information to fill Form 61:

• Name and address of the applicant
• Particulars or details of the transaction
• Proof of address
• Date, place, and the declarant's signature

Note: Applicants must sign the verification section mentioned in the form, stating that all information provided is true to the best of their knowledge.

While providing Form 61, you will need to provide supporting documents to prove your address and identity. The documents you can submit include:

• Aadhaar Card
• Ration Card
• Driving Licence
• Passport
• Identity Card (issued by an accredited institution)
• Copy of Recent Utility Bills (gas bill, water bill, etc.)

Also Read: What is Advance Tax Payment?

Given below are the differences between Form 60 & Form 61:

Form 60

This is a declaration form that you need to submit if you do not hold a PAN but want to enter into transactions mentioned under Rule 114B of the Income Tax Act.Applicants who do not have a General Index Register Number but wish to pay in cash with respect to all transactions mentioned in Clauses (a) to (h) of Rule 114B, will have to submit Form 60.

Form 61

You will need to submit this form if you have agricultural income but do not receive any other income that is taxable, and you wish to carry out transactions specified in Clauses (a) to (h) of Rule 114B.A PAN card is a mandatory document that every Indian citizen must have. In case you do not have one, you can submit Form 61 if you derive your income from an agricultural source.

You should be aware of the details you need to furnish before filling up Form 61 in order to submit the form successfully. Remember to enter the correct spelling of your name and your complete address along with your date of birth.Additionally, ensure that you provide the accurate particulars of the transaction and the respective amount. Also, remember to mention your 12-digit Aadhaar card number in the form. Also Read: Everything You Need to Know About Form 60 of the Income Tax Act