PAN for NRI
This query is : Resolved
20 July 2011
PAN is required at the time of registration of flats only, but is PAN required even in case he is booking a flat and making instalment payment only to developer.
Further, it may happen that NRI may sell the property without registration.
Whether NRI is required to have PAN for even booking of appartment and what would be the responsibility of a developer who is selling the property ?
Further, it may happen that NRI may sell the property without registration.
Whether NRI is required to have PAN for even booking of appartment and what would be the responsibility of a developer who is selling the property ?
20 July 2011
every reality transaction is under PAN control, if the NRI sells the flat in process, department may grip the developer for non obtaining the PAN data from prospective buyers.
an agreement to sale means the prospective buyer is going to get the flat registered in his name, so PAN is mandatory.
an agreement to sale means the prospective buyer is going to get the flat registered in his name, so PAN is mandatory.
21 July 2011
NRI is also required to have PAN and all payments are to be made through his NRO account.
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