Move to check generation of domestic black money

By Abha Manakatala - Sun Oct 04, 1:30 pm

Representational Picture

Representational Picture

Union Finance Minister Arun Jaitley today said that in order to check generation of domestic black money, the government would soon make it mandatory to furnish PAN card details for cash transactions beyond a certain limit.

“The government is at an advanced stage in considering the requirement of furnishing PAN card details if cash transactions beyond a certain limit are undertaken,” Jaitley said in a Facebook post.

In 2015-16 Budget, Jaitley had proposed making quoting of Permanent Account Number mandatory for all sale and purchase of over Rs 1 lakh.

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