Ensure Aadhaar-PAN linkage to avoid 20% TDS on property purchases

07 Dec 2023 CW Team

Ensure that both your Aadhaar and PAN cards are linked, and verify that the property seller has completed the necessary linking as well. Failure to do so may result in a 20% tax deducted at source (TDS) on your property purchase, as opposed to the standard 1%.

Under the provisions of the Income-Tax Act, if you buy a property valued at Rs 50 lakh or more, you are required to pay 1% TDS to the central government and the remaining 99% to the seller, who can subsequently claim it as credit.

The Income Tax Department has started issuing notices to buyers, six months post the Aadhaar and PAN linking deadline, instructing those who purchased properties exceeding Rs 50 lakh to pay a 20% TDS on their acquisition.

Chartered accountants report that numerous property buyers are receiving these notices because the property seller has not linked their PAN with Aadhaar. To address this issue, chartered accountants are urging property sellers, along with contractors, brokers, professionals, and others, to ensure the linkage of their PAN and Aadhaar to prevent the deactivation of the seller's PAN card and subsequent TDS implications for buyers of properties valued above Rs 50 lakh.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..