Experts say keep records for property buys over ₹30 lakh
In short
Experts are telling property buyers to keep full records when they buy real estate, including deals over ₹30 lakh. They say there is no limit on how many properties a person can hold under one PAN if the transactions are real and the money can be explained.
This matters because buyers may need proof if tax officials ask questions. The reporting does not say about any specific buyer, case, or tax notice.
What the reporting says
Experts have advised property buyers to keep records for realty purchases and show that funds are explainable, after a report framed the issue around deals over ₹30 lakh. The summary says there is no limit on properties held under one PAN if transactions are genuine, and it recommends sale deeds, payment proof, bank statements, loan documents and ownership records. The immediate consequence is stronger documentation for buyers, while no tax action or specific case is reported.
Why it matters
The reported event is advice on property purchase documentation: experts are urging buyers to keep sale deeds, bank statements, loan papers, payment proof and other ownership records. The summary says there is no limit on properties under one PAN if transactions are genuine and funds are explainable. The available reporting does not identify a specific tax case, a government warning, or any enforcement action tied to the ₹30 lakh figure.