Q.826 Register property without PAN - UK NRI
Question: I want to register a new house Bangalore ,
But i don't have PAN Card ?
Is it possible? NRI UK citizen?
Thanks
[November 21, 2015]
Answer: Generally, foreign citizens of Indian origin are exempt
from providing PAN. When a transaction calls for producing a PAN,
those who do not have PAN are required to file a declaration in
Form 60. This is accepted in lieu of PAN.
Instead of PAN card number, Form 60 is then submitted to the
Income tax department. [View Form 60 sample HERE]
It is common practice now in India that PAN is required in India
for registration of immovable properties valued at five lakh rupees
or more.
Since getting a PAN card in India is relatively easy, many non-residents are advised by builders, brokers etc. to
simply get a PAN as things move faster, without the requirement of additional documents/questions that some
registrars might come up with. Furthermore, when selling or repatriating sale proceeds of property, PAN will be
required.
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional
accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has
been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail.
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Rule 114C of the Income Tax Rules that lists Class
or classes of persons to whom provisions of
section 139A shall not apply, includes:
(1)b. the non-residents referred to in clause (30)
of section 2;
[Section 2 (30) "non-resident" means a person
who is not a "resident", and for the purposes of
sections 92, 93 64 and 168, includes a person who
is not ordinarily resident within the meaning of
clause (6) of section 63;]
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