Consequencies on non submission of pan if purchase of gold jewellery is above rs. 2 lac
We are purchasing gold jewellery above Rs 2 Lac but we dont want to submit PAN. Is there any other Form which be used in place of PAN. What are the consequency if we dont submit the PAN.
Replies (1)
What consequence u expect.....seller cannot sell to you with Bill...else he may split the bill....some seller may quote wrong pan.....still seller is liable for penalties for non compliance
On basis of address or bank details buyer may be traced and called for explanation..
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