Bihar’s land registration landscape shifts dramatically from today, with PAN mandatory for properties priced at 10 lakhs or more. The state’s Registration Department, responding to tax authority pressures, has circulated binding orders to every sub-registrar office for instant adherence.
Halving the prior 30 lakh threshold, this covers myriad transactions from village plots to city shops. PAN-less filers turn to Forms 60/61, but offices like Purnia’s are turning away incomplete papers, as confirmed by official Uma Shankar Mishra.
Rooted in Income Tax findings of untaxed serial traders hiding behind small-deal loopholes, the policy builds a transparent chain. Deputy IG Sanjay Kumar insists on zero tolerance.
High-stakes 50 lakh+ buyers face 1% TDS mandates, with penalties at 20%. The ripple effects? Sharper dispute resolution, fewer forgeries, and robust tax inflows. For wary purchasers, it’s a safeguard against pitfalls; for the exchequer, a revenue booster. Bihar eyes a disciplined realty boom under this vigilant framework.