NEW DELHI: No new KYC disclosures have been mandated for cash purchase of gold, silver or precious gems and stones and only high-value cash transactions continue to require the filing of documents such as income tax PAN or biometric ID Aadhaar, finance ministry sources said Friday.
Clarifying a December 28, 2020 notification, the Department of Revenue in the Ministry said cash purchase of jewellery, bullion and precious gems and stones of value more than Rs 2 lakh is not allowed without KYC in the country for the past few years.
This continues. (AGENCIES)
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