Starting today, Bihar property owners face a game-changing regulation: PAN cards are now compulsory for registering any land or building worth 10 lakhs or higher. The Excise and Registration Department has notified all district offices to enforce this without exception, targeting the shadows of tax dodging in real estate.
What was once required only for 30 lakh-plus transactions now applies much lower, covering everyday deals in villages and cities alike. Without a PAN, applicants must submit Income Tax Forms 60 or 61. Purnia officials have already plastered the mandate on notice boards, halting registrations on the spot for non-compliance.
Income Tax alerts prompted this shift, exposing how mid-sized properties evaded scrutiny, leaving authorities blind to repeat players in the market. Sanjay Kumar, the Deputy IG of Registration, demanded rigorous implementation to build a traceable trail of ownership.
Buyers of 50 lakh-plus properties will see 1% TDS enforced strictly, with steep 20% hikes for defaulters. This digital leash promises fewer land scams, reduced fake deeds, and fairer taxes— a win for honest investors long plagued by murky dealings. Bihar’s real estate landscape is set for a cleaner, more accountable era.