TAN Exemption for Property Buyers: Relief for Resident Buyers u/s 397

Poojitha Raam Vinay | Last updated: 16 February 2026

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A new provision, Section 397, is set to simplify tax compliance for resident property buyers in India. It removes the requirement for a TAN (Tax Deduction and Collection Account Number) for certain property transactions, making the process easier and more accessible. While TAN is no longer needed, buyers must still deduct 1% TDS and file Form 26QB, ensuring correct details are provided.

Overview The Indian government has introduced a major relief for property buyers through Section 397 (proposed in Budget 2026). This provision aims to simplify tax compliance by removing the requirement of obtaining a Tax Deduction and Collection Account Number (TAN) for resident buyers in certain

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About the Author

Poojitha Raam Vinay

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I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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