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. © Copyright 2006 Nriinformation.com
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A handy book for NRI, OCI, PIO
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 THE NRI GUIDE
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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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RI Information
 Informing  educating and connecting Indians across the globe
NriInformation Questions &Answers 
Read Disclaimer at bottom of page
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. © Copyright 2006 Nriinformation.com
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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.
N RI
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;]
A handy book for NRI, OCI, PIO
PRINTED BOOK OR KINDLE VERSION
AMAZON - UK AMAZON - USA AMAZON - AUS AMAZON - INDIA
 THE NRI GUIDE
New for 2016
Now available
Worldwide from Amazon