Pan of co owner

it has been mandatory because if there is income from such property then it needs to be shown in both owners itr and dept can cross check it from the pan mentioned in both itrs. if it is not shown in either of the itr then dept can issue notice to such person....... if the co owner does not have pan then its better to show in itr that the house is fully owned by the person having pan. but you need to show full amt as income and not just only his share of income in itr.

It has been made mandatory to collect more data to check tax evasions.Department can see whther the co-owner has disclosed his share of income if they have co-owner's PAN.

I dont find any way to escape this requirement.

May be we can show the property as fully owned by the assessee but it is injustice to show the entire income as his own.

Also in the present case, the individual share is only around Rs.80,000.00.

Under which section disclosure of PAN is mandatory ??

 

@ vikas.... there is no such section, it is a procedural compliance that everyone has to follow.