I have purchased property in Karnataka, In that purchaser pan number mentioned wrongly in sale deed.
if i sell the property in future, will there be any complications due to this?
Please clarfiy
Bharani Selvam 11 June 2020
I have purchased property in Karnataka, In that purchaser pan number mentioned wrongly in sale deed.
if i sell the property in future, will there be any complications due to this?
Please clarfiy
P. Venu (Advocate) 12 June 2020
The descrepency, as stated, is of no consequence.
Bharani Selvam 12 June 2020
Thanks sir..
Dr J C Vashista (Advocate) 13 June 2020
Requirement for mentioning PAN Number is for levy and payment of taxes, which should not create any problem at the time of sale of the property if due tax is already paid and there is no doubt/ complaint.
Sinjari Bandyopadhyaya(Banerje (Lawyer 9830019661 Kolkata WB) 16 June 2020
| Originally posted by : Bharani Selvam | ||
 |
I have purchased property in Karnataka, In that purchaser pan number mentioned wrongly in sale deed. if i sell the property in future, will there be any complications due to this? It cannot create any hindrance to sale in future. Whenever any Sale Deed is registered,then the copy of the same after a certain period of time has to be sent from that Registry office to the Income Tax Authority and on the basis of that PAN No. Income Tax authority enquires whether the Seller and buyer fully disclosed such particulars in their Income Tax Return of that relevant assessment year and in case of any default in payment of such Income tax, Income Tax authority issues notice to show cause. So if you have paid such taxes in time disclosing the monetary transaction of such purchase in your ITR then on the ground of that typing error you will not be penalized on the ground of misleading the IT Authority and another thing will safeguard you that nowadays self attested PAN card xeroxes of the Seller and buyer are annexed with the registered Sale Deed,therefore, the Authorities can always check your actual PAN No. from that self attested PAN Card xerox. Please clarfiy |
 |
Bharani Selvam 17 June 2020
Sinjari Bandyopadhyaya(Banerje (Lawyer 9830019661 Kolkata WB) 18 June 2020
| Originally posted by : Bharani Selvam | ||
|
Thanks for the clarification, however during registration they have not obtained pan copy of us since it's less than 50lakhs.. just for your information... If you have disclosed the full particulars of such purchase in your Income Tax Return of that relevant assessment year and have paid the taxes in time disclosing the monetary transaction of such purchase in your ITR then on the ground of that typing error you will not be penalized for misleading the Income Tax Authority . |
|
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
