Please Help: Rquirement of PAN for Jewelley

Posted Date : 01-Mar-2013 , 06:35:07 pm | Posted By Sanjeev Khanna

What is the Limit above which PAN is to Mention to be for Purchase of Jewellery.

Category : Income Tax | Answers : 1 | Comments : 2 | Hits : 114

Answers

Answer By: Vikky Kumar Jha

With the gems and jewellery sector now being included under the Prevention of Money Laundering (Amendment) (PMLA) Bill, customers may be asked to furnish their permanent account number (PAN) card to the seller in case the transaction involves buying of gold jewellery above Rs 50,000