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Incorrect pan number in property stampduty registration

This query is : Resolved 
 


Querist : Anonymous (Querist)
30 October 2020

Recently i have purchased the property, While reciving the Stampduty & Registration Fees receipt i found that number in Pan No mentioned is incorrect..

Does it affect my ITR benefit under 80C(26AS -SFT) ..

How to correct and what is the procedure ?


Rajendra K Goyal Online (Expert)
30 October 2020

What is the cost of the property?
Whether any TDS was deducted by the seller and the same is not shown in your 26AS?
Have you taken any loan on the property ?
It would be better to discuss with some tax consultant.


Querist : Anonymous (Querist)
30 October 2020

cost is very high.. yes i have taken loan for this property

kavksatyanarayanaOnline (Expert)
30 October 2020

Submit an application with the details of the date of payment, your name & address, and the seller name & address to the authority concerned to correct the Pan No. in the receipt.

Dr J C VashistaOnline (Expert)
31 October 2020

Mr./ Ms. Anonymous,
Get a rectification deed registered with correct PAN number, if you want to reflect the transaction in your ITR.

Rajendra K Goyal Online (Expert)
31 October 2020

You can show the transaction in your ITR with correct PAN and claim related benefits under the Act.
You should quote correct PAN of yours while filing Form 26QB at the time of depositing TDS on installments / payments to seller if the deal is above 50 lacs.
PAN mentioned in the registration deed / purchasing stamp papers have no concern with IT return filled by you, yet you must proceed to get the error rectified at an earliest.

K RajasekharanOnline (Expert)
01 November 2020

You can correct the number in the receipt by filing an application to the department which issued the receipt. There is no other means to correct it. It is their duty to correct the mistake as no official record is expected to retain any incorrect data or information once it is found out.

ITR can be filed only with the correct PAN if you are filing it online as the username is the PAN number itself.

However, the income tax benefit under Section 80 C is concerned with Investments in Provident Funds such as EPF, PPF, etc., payment made towards life insurance premiums, Equity Linked Saving Schemes, payment made towards the principal sum of a home loan, SSY, NSC, SCSS, etc.

Dr J C VashistaOnline (Expert)
01 November 2020

Stamp duty and registration charges paid for the purchase of property can be claimed for rebate u/s 80 C of the Income Tax Act, 1961 ? No.



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