Jewellery transactions  under PMLA 

     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. 

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