my client wants to purchase gold below 2 lakhs amount in a financial year which amounts to 5 lakhs. will he submit PAN NUMBER
Replies (3)
Quick Summary
This discussion clarifies the rules around cash transactions for gold purchases. It addresses whether a PAN card is required if a client intends to purchase gold below £2 lakh in a financial year, potentially totalling £5 lakh over multiple transactions. The advice given is that a PAN card is indeed required if previous purchases were also made in cash.