From Oct 1, 2026 no TAN if buying NRI property
Effective October 1, 2026, non-resident Indians (NRIs) buying property in India will no longer need to obtain a Tax Deduction and Collection Account Number (TAN). This change, introduced in Budget 2026, applies only to transactions occurring on or after that date. Prior to October 1, 2026, NRIs purchasing property must still follow the previous process requiring the buyer to secure a TAN.
This update is in line with Section 397(1)(c) of the Income Tax Act, 2025, amended by the Finance Act, 2026, which allows resident individuals and Hindu Undivided Families (HUF) to deposit taxes using their PAN without obtaining a TAN, as long as the transaction is completed before the specified date.
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