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
NriInformation Questions &Answers
Read Disclaimer at bottom of page
Custom Search
Search Nri Information
N
RI Information
Informing
educating and connecting Indians across the globe . . . by Virendar Chand
Custom Search
Search Nri Information
A handy book for NRI, OCI, PIO
PRINTED BOOK OR KINDLE VERSION
THE NRI GUIDE
New for 2016
Now available
Worldwide from Amazon
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;]
- How to get Drivers License in India
- How to get Ration Card in India
- How to get new Gas Connection in India
- How to get Nativity Certificate in India
- How to get Aadhaar Card in India
- How to use your foreign phone in India
- How to Safely Transfer Money to India
- How to send Power of Attorney to India
- How to get Proof of Address Card in India
- How to Change your Name Legally
N
RI Information
Informing
educating and connecting Indians across the globe
NriInformation Questions &Answers
Read Disclaimer at bottom of page
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.
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
THE NRI GUIDE
New for 2016
Now available
Worldwide from Amazon
