InvestorQ : Is the Form 60 enough for financial transactions?
Siya Saran made post

Is the Form 60 enough for financial transactions?

Answer
user profile image
seema Upadhyaya answered.
1 year ago


No. Merely Form 60 is not enough for financial transactions. But let’s first understand when a Form 60 is required.

A Form 60 is a declaration to be filed by an individual or a person who does not have a permanent account number (PAN) and who wants to open an account or make cash payments. It is a mandatory document required from an individual to carry out financial transactions when the concerned person doesn’t have a PAN Card.

Form 60, however, needs to be supported by a relevant address and identity proof. The documents that can be presented with a Form 60 are:

- Driving License

- Passport

- Ration Card

- ID proof from an accredited institution

- Copy of the electricity bill or telephone bill

- Any document issued by Central Government, State Government or any local bodies.

- Any documentary proof related to the address mentioned in the form.