https://www.taxtmi.com/article/detailed?id=1350 Mandatory quoting of the Permanent Account Number (PAN) has been introduced for high-value jewellery and bullion purchases to enable tax authorities to monitor large cash intensive transactions. Amendment to Rule 114B, effective July 1, 2011, brings such purchases within a compliance regime that already covers high-value property transfers, vehicle sales, large deposits, high-value contracts, insurance payments and certain debit-card and hospitality payments, placing recordkeeping obligations on dealers and financial intermediaries while acknowledging practical limitations from transaction-splitting and alternative purchasing methods. en-us Fri, 08 Jul 2011 18:49:35 +0530 Sat, 14 Sep 2013 23:09:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1350 Mandatory quoting of the Permanent Account Number (PAN) has been introduced for high-value jewellery and bullion purchases to enable tax authorities to monitor large cash intensive transactions. Amendment to Rule 114B, effective July 1, 2011, brings such purchases within a compliance regime that already covers high-value property transfers, vehicle sales, large deposits, high-value contracts, insurance payments and certain debit-card and hospitality payments, placing recordkeeping obligations on dealers and financial intermediaries while acknowledging practical limitations from transaction-splitting and alternative purchasing methods. Articles Income Tax Fri, 08 Jul 2011 18:49:35 +0530 https://www.taxtmi.com/article/detailed?id=1350