Getting Demand Draft in India for buying property ( PAN number related)

maheshbangalore · Post by **maheshbangalore** » Sat Dec 01, 2007 5:13 pm

I am buying the property in India. I have given the Power of Attorney to my cousin brother to buy the property. My cousin encashed all the money from my NRE account by mistake. Ideally, he could have given cheque for 10 lakhs (white portion ) during the process of Registration for stamp duty etc.

Now, My cousin is saying, when we try to get Demand Draft of around 10 lakhs rupees ( white portion) during Registration, we need to give PAN number. Since, I live in US and I don't have any PAN number, how can I draw the demand draft for 10 lakhs without PAN number. My cousin brother is a doctor and he says it is not good idea to give his PAN number. Also, can my mother draw demand draft for 10 lakhs ( My mother is house wife and she doesn't have PAN number) ?

If anybody has gone through this situation, please give suggestion.

Thanks,

fantoosh · Post by **fantoosh** » Sat Dec 01, 2007 8:31 pm

You can't deposit cash back in an NRE account.

But the cash can be deposited in u r NRO account.

From this NRO account(in u r name) you can then get a required DD.

Since money from u r one account (NRE) is being transferred to u r another account(NRO) there shouldn't be any problem in case there is any query in future.

maheshbangalore · Post by **maheshbangalore** » Sun Dec 02, 2007 1:23 am

Thanks fantoosh for the reply...

I have two options at this point...

My Mom will try to deposit to the joint account ( My mom and myself created in local SBI) of SBI tomorrow. Since my mom doesn't have PAN number, I think she need fill 15/16 H form and then deposit the money.

If she can deposit the money, then , we can write the cheque to the seller ( white portion) of the property.

Other Option is to get Demand Draft for about 9 lakhs. I am not sure whether we need to give PAN number or fill another 16-H form to get demand draft for 8 lakhs.

Thanks