Modi Government Makes Aadhar, PAN Card Necessary To All Gold Transaction
Modi Government Plan || Aadhaar Required To Gold Purchase || PAN Card Required To Gold Purchase || Aadhaar Needed For Gold Transaction || PAN Card Needed For Gold Transaction
Pan Card Can Be Mandatory On The Purchase Of Gold, Modi Government
The Modi government is going to take another big step to curb black money and corruption. After the transaction in the bank, the government is now planning to make pan card mandatory for buying and selling gold.
According to reports, the panel of financial regulators has placed a proposal in front of the government to make PAN card mandatory for purchase of gold. Presently, only a PAN card is needed when buying gold worth more than 2 lakhs.
Pan Card Required On Every Purchase Of Gold
If the central government approves this proposal of the panel, then the pan card will be required for every purchase of gold, not just the price of more than 2 lakh, even if it is of any amount.
Every Transaction Through Electronic Registry
The panel of financial regulators is also proposing that the cash limit per day will also be approved to prevent tax evasion. At the same time, to prevent black marketing of gold, every transaction should be registered through electronic registry.
Strict Rules Against Tax Avoiders
According to the report of the Household Financial Panel, the committee has recommended this to stop black marketing. The Committee believes that there should be strict rules against tax avoiders.
Link In The Same Way As Before, Aadhaar With The Pan, There Is No Change
Ajay Bhushan Pandey, CEO of Unique Identification Authority of India, has reiterated the point of linking the aadhaar with Pan. He said that the income tax department’s process of linking the aadhar to PAN will continue as before. Significantly, the Supreme Court declared it as a fundamental basis while deciding the judgment in the matter.
The last date for linking the UID with PAN for the tax payers is August 31. On Friday, Pandey said that the correct deadline is valid as before. In cases related to income tax and money laundering, action will be taken in the same way as before.
Right To Privacy Decision By SC
Explain that the Supreme Court has given a major decision on the right to privacy. The court said that the right to privacy is the fundamental right. During his decision, the bench of nine judges unanimously said that privacy is the fundamental right.
Significantly, the government has welcomed the decision of the Supreme Court on Right to Privacy. After the Supreme Court’s decision, Law Minister Ravi Shankar Prasad said that “the Supreme Court has confirmed the matter which the government had said during the presenting of the Bill in Parliament.”
Personality should be the fundamental right but it should be subject to reasonable restrictions. The government is committed to protecting the private data of the people. The government has taken legal measures to protect the data. What was the record of Congress in protecting personal liberty; it was seen during the Emergency.