Procedure for submission of Form No. 60 by any person who does not have a Permanent Account Number and who enters into any transaction specified in Rule 114B of the Income-tax Rules, 1962

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....count Number is to be quoted in all documents for the purpose of clause (c) of subsection (5) of section 139A of the Income-tax Rules, 1962 (hereunder referred to as the Rules), any person who does not have a Permanent Account Number and who enters into any transaction specified in this rule, shall make a declaration in Form No. 60 giving therein the particulars of such transaction either in paper form or electronically under the electronic verification code. 2. As per sub-rule (1) of Rule 114D (Time and manner in which persons referred to in Rule 114C shall furnish a statement containing particulars of Form No. 60), the persons referred to in clauses (a) to (k) of sub-rule (1) of Rule 114C and sub-rule (2) of Rule 114C shall furnish a sta....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... enters into any transaction specified in under Rule 114B of the Income-tax Rules, 1962, shall make a declaration in Form No. 60 giving therein the particulars of such transaction electronically using electronic verification. a) The electronic verification can be enabled using electronic portal/application approved for transactional facility by the regulator. b) The electronic verification can also be enabled using any of the following specified Aadhaar Authentication methods: i. Type 2 Authentication - Authentication of residents through One-Time-Password (OTP) delivered to resident's mobile number and/or e-mail address present in CIDR. ii. Type 3 Authentication - Authentication of residents using one of the biometric modalities,....