banner_ad

BANK ACCOUNT

Tax queries 264 views 8 replies
form 60 submitted for opening account during year 2005.Whether its valid for 6 years.or its even valid today
Replies (8)

In my view it's not valid. Bcoz, after the years bank laws are amended KYC documents...

Futher way you can check it in Bank

As per existing KYC norms followed by banks, all KYC documents of a low risk profile customer is to be updated once in 10 years and so Form 60 given in 2005 is not valid now as it should have been reobtained in 2015 from the customer.

But customer not submitted form 60 or pan card in 2015 rather he updated aadhar card for gas subsidary
Originally posted by : Aaaaaa
But customer not submitted form 60 or pan card in 2015 rather he updated aadhar card for gas subsidary

Yeah... The bank is satisfied with Aadhaar then no need worries

It is mandatory to obtain PAN or Form 60 from all customers as per KYC norms and if the bank has failed to do so, you may report the account as non KYC complied in the concurrent audit report, if you are doing the concurrent audit of that bank.

But when I asked bank they saying your account linked with form60 on 2015
but I not submitted form 60 in 2016
sir in case form 60 linked while opening bank account.is it again required to fill form 60 for cash deposit above 50000


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details