Rs. KYC does not want to buy gold under Rs 2 lakh!

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Prime Time Zone, Webdesk: Rs. The Finance Ministry has clarified that those who buy gold, silver, jewelery and gems for less than Rs 2 lakh are not required to abide by the mandatory KYC rules. A notification issued by the Finance Ministry on December 28, 2020 said that only large amounts of cash transactions would require certification such as PAN and Aadhaar. Gold, jewelery and precious gems worth Rs. If you want to buy more than Rs 2 lakh, you have to pay KYC. According to the Anti-Corruption Act 2002 .. Rs. Individuals or companies buying gold, silver, jewelery, gems worth Rs 10 lakh and above are required to comply with KYC regulations.