Buying a house, flat, or plot may soon become easier. The Central Government is planning to give big relief to property buyers.
Under the new proposal, you may not need a PAN card to buy property worth up to ₹20 lakh from 1 April 2026. Let’s understand what this new rule means.
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What Is the Current Rule?
Right now, if you buy or sell any property worth more than ₹10 lakh, it is compulsory to give your PAN card details.
This rule was made to keep a record of big property deals and to prevent tax evasion.
But now, the Income Tax Department has presented a draft of new rules. The government is thinking of increasing this limit from ₹10 lakh to ₹20 lakh.
What Will Change Under the New Rule?
If this proposal is approved:
From 1 April 2026, you can buy or sell property worth less than ₹20 lakh without giving a PAN card.
For property deals of ₹20 lakh or more, PAN card details will still be compulsory.
This change will reduce paperwork and make small property deals simpler for common people.
Why Is the Government Making This Change?
Property prices have increased a lot in recent years. Because of this, the government believes the old ₹10 lakh limit is no longer practical.
By increasing the limit to ₹20 lakh, the government wants to reduce paperwork and give relief to middle-class and small buyers.
What About Tax Evasion?
This does not mean the tax department will stop monitoring property deals.
According to tax experts:
PAN card will still be required for deals above ₹20 lakh.
This helps ensure that people buy property according to their declared income.
It also helps prevent tax evasion in large transactions.
So, while small buyers may get relief, strict rules will still apply to bigger deals.