Draft Income Tax Rules 2026 Propose Raising PAN Requirement Threshold for Property Deals to Rs 20 Lakh

The Draft Income Tax Rules, 2026 propose raising the mandatory PAN disclosure threshold for property transactions from Rs 10 lakh to Rs 20 lakh, effective April 1, 2026. This change aims to ease compliance for smaller buyers, especially in tier-2 and tier-3 cities, by reducing paperwork for transactions below Rs 20 lakh. However, PAN will remain mandatory for higher-value deals and certain arrangements like gifts and joint development agreements. Experts advise voluntary PAN quoting to maintain clear financial records and address potential tax implications.