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Furnishing of PAN and its Verification

Requirement of PAN to be obtained from parties and responsibility of furnishing of correct PAN is also lies with Your Company, so verify the PAN from available sources. Moreover details to be obtained under form 60 are required to be filled truly and correctly, further all the particulars of the same are required to be verified to the satisfaction of the concerned person.

In case in form 60 amount of income of person filing declaration exceeds maximum amount not chargeable to tax, person accepting the declaration shall not accept the declaration where the amount of income of the person (other than agriculture income) exceeds the maximum amount which is not chargeable to tax, unless PAN is applied for and column 21 is duly filled.

Following transaction required quoting the PAN or information in form 60 (if PAN not available). w.e.f. 01.01.2016

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