There are 22.3 crore PAN cards issued as of March 31, 2015.
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Mumbai: The All India Gems and Jewellery Trade Federation has called the requirement for a Pan card for sale of Rs 2 lakh and above as a negative step for the industry as this would neutralise benefits arising out of the gold monetisation scheme.
They also said that their industry does not generate black money and it is bullion that attracts people with black money. There are 22.3 crore PAN cards issued as of March 31, 2015. “Will it be justifiable to ask for a PAN card to approximately 89-90 per cent of the population who do not possess one” ask Mr Ashok Minawala, director, GJF. Mr Sreedhar G.V., chairman, said, this is not practical and will discriminate 70 per cent of the rural buyers, who are not under the tax net and don’t have Pan card.
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( Source : deccan chronicle )
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