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Situation 1 :

I have purchased a property whose cost is more than 50 lac and transferred the consideration via bank account without deducting any TDS on it. Now the seller is demanding my PAN for filling his ITR. Should I provide my PAN to him ?

 

Situation 2 : 

I have purchased a property whose cost is less than 50 lac (i.e 32 lac) and transferred the whole consideration via bank account. Now the seller is demanding my PAN for filling his ITR. Should I provide my PAN to him ?

 

Replies (2)
In case 1:

You will be liable for default for not deducting TDS, which you can easily rectify by paying the TDS amount and interest.
Now if you provide PAN to the seller there are chances you may get notice for default.

In Case 2:

You can provide the PAN to the seller as you haven't committed any default.

In either case Seller would require your PAN to disclose sale of property in his return.

Okay.....

Thank-you sir


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