Budget 2026: Buying Property from NRIs Now Easier with PAN, No TAN Needed
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Moneycontrol•01-02-2026, 16:39
Budget 2026: Buying Property from NRIs Now Easier with PAN, No TAN Needed
- •Budget 2026 simplifies property purchases from NRIs by removing the mandatory TAN requirement for resident buyers.
- •Resident individuals and HUFs can now deduct and deposit TDS using the seller's PAN, aligning with transactions involving resident sellers.
- •This change, announced by Finance Minister Nirmala Sitharaman, aims to reduce the compliance burden and expedite property registrations.
- •Previously, obtaining a TAN for one-time buyers caused delays and procedural errors, which this new rule addresses.
- •Buyers must still verify the seller's NRI status to ensure correct TDS deduction rates (1% for residents, 12.5% or 30% for NRIs based on asset type).
Why It Matters: Budget 2026 streamlines NRI property transactions by replacing TAN with PAN for TDS, easing buyer burden.
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