Quick Summary
The government has proposed a relaxation from the requirement to obtain a Tax Deduction and Collection Account Number (TAN) for certain property transactions involving non-resident sellers. Existing Legal Position under Section 397 Section 397(1)(a) of the Income-tax Act mandates that every person deducting or collecting tax must obtain a TAN from the Assessing Officer. Clause (c) of the same sub-section lists specific cases where obtaining TAN is not mandatory. At present: When an immov
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FAQ :
Resident individuals and Hindu Undivided Families (HUFs) purchasing immovable property will benefit from this exemption.
The proposed amendment will take effect from 1 October 2026.
No, the exemption specifically applies when the seller of the immovable property is a non-resident.
TAN stands for Tax Deduction and Collection Account Number, which is generally required for anyone deducting or collecting tax.
No, the obligation to deduct and deposit Tax Deducted at Source (TDS) continues. The exemption is only from the procedural burden of obtaining a TAN for such a transaction.
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