Jewellery purchases above Rs. 50K now require submission of Aadhaar and a secondary ID

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Jewellery purchases exceeding Rs 50,000 won’t require the income tax permanent account number ( PAN) to be provided after the government reversed an earlier notification on Friday, providing a big festive cheer for the sector and potential customers.

Jewellers will also not be required to inform authorities about jewellery purchases of over Rs 50,000 after the government rescinded a notification issued on August 23.

Pan Card: Now no PAN card required for jewellery purchase of over Rs 50,000 - The Economic Times
 
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