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Consequence of possessing a property without PAN
One of my client wants to take a property in the name of his daughter-in-law. However the daughter-in-law does not have PAN. The property amounts Rs. 20 lac. What is the best way to not invite clubbing provisions and other hardships?
Replies (4)
PAN is compulsory for holding a property having fair market value of Rs 5 lakhs.
Hence daughter in law have to apply for PAN 1st and then acquire the property.
Hence daughter in law have to apply for PAN 1st and then acquire the property.
If you know more about the investment plan, you must visit this website such as Cochin stock brokers . It include investment information, products setails,mutual fund etc.
you can purchase property for 20lacs but not a pan card for 150 rupees....Savage 😂😂😂 better apply for pan and after receiving it hold.the property...only way to avoid clubbing provisions....ps: no offence 😁😁😁
In the case of plot purchase, value, if exceeds 5,00,000, PAN is required. However, if the registrant does not pay taxes or has no PAN can fill form 60.
For a home purchase, PAN is mandatory if the value is equal or exceeds 50,0000.
To escape provisions of clubbing, produce a registered gift deed in favour of the relative.
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