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India replaces Form 60 with Form 97 for property purchases above Rs 20 lakh without a PAN card, effective April 1, 2026.
India's Income Tax Department is replacing Form 60 with a new Form 97 for property purchases above Rs 20 lakh without a PAN card, effective April 1, 2026.
The 2025 tax act overhaul includes updated forms designed to simplify compliance and reduce errors.
Officials estimate this will cut annual filings by 80-85%, from 12.5 crore to significantly fewer, aiming to make the system more efficient.
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La India reemplaza el Formulario 60 con el formulario 97 para compras de propiedades por encima de Rs 20 lakh sin una tarjeta PAN, a partir del 1 de abril de 2026.