Today I would like to inform you about gold.Today I would like to share with you an important information that gold sellers,buyers,and holders of gold ,need to know. It is very useful information.
The union Ministry of Finance has issued a notification in this regard. Accurate details of gold jewellery collection and transactions in jewellery should be submitted before the enforcement directorate.
Jewellery transactions are now under the PMLA (prevention of money laundering act)law. This act is an act of the parliament of India enacted by NDA. It is to prevent money laundering and provide confiscation of property derived from money laundering.
Now onwards PAN card,aadhar number are required to buy and sell gold from jewellery. Enforcement directorate is a semi judicial power. This agency is responsible for enforcing economic laws and fighting economic crimes I India.
Co operative banks are also being brought under the reserve bank of India. It is no longer possible to make gold transactions without proper documentation.