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Form 61 query

haridas rao (73 Points)

18 February 2021

Are banks required to file form 61 for all customers who submitted form 60 for savings accounts?

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 19 February 2021

No it is not necessary Form 61 refers to the document which is duly filled by the individual who receives income solely from agriculture and is not the entertainer of any other income chargeable to income tax. Also, individuals who do not possess PAN need to submit Form 61 while making any of the financial transactions.20-Nov-2020

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