Bharani Selvam 11 June 2020

Pan number mentioned wrongly for purchaser in sale deed.

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

Quick Summary

If your PAN number was incorrectly stated on a sale deed in Karnataka, it's unlikely to cause major complications when you sell the property in the future. The primary purpose of the PAN on sale deeds is for tax purposes. As long as you have correctly declared the transaction and paid any applicable taxes in your Income Tax Return, a simple typing error should not prevent a future sale. The Income Tax authorities can also verify your correct PAN through other means if necessary.

6 Replies

P. Venu (Advocate) 12 June 2020

The descrepency, as stated, is of no consequence.

1 Like

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.

1 Like

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

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

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 .