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Chapter No. 11 - PERMANENT ACCOUNT NUMBER [SECTION 139A and RULE 114]
Answer :The Basic limit of PANCARD for sale/purchase of immovable property valued at ₹ 5 Lakhs or more. [139A(5)c) and Rule 114B].
PAN requirement for immovable property transactions: PAN must be furnished where property value meets the statutory threshold. A Permanent Account Number (PAN) must be furnished for sale or purchase of immovable property when the transaction reaches the statutory value threshold, as part of PAN-related obligations in return of income and assessment procedure; this requirement applies to parties to the transaction to ensure tax documentation and compliance. of Press 'Enter' after typing page number.
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