Gold Purchase Limit Hike: Experts Demand Higher PAN/Aadhaar Threshold in Budget 2026
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News18•30-01-2026, 13:38
Gold Purchase Limit Hike: Experts Demand Higher PAN/Aadhaar Threshold in Budget 2026
- •Experts urge the government to increase the PAN/Aadhaar submission limit for gold purchases from the current Rs 2 lakh in Budget 2026.
- •The Rs 2 lakh limit, set in 2016, is now easily exceeded due to increased gold prices, causing difficulties for ordinary buyers and small jewelers.
- •Increasing the limit would benefit genuine customers and enhance transparency, while the current rule brings ordinary retail buyers under reporting regulations unnecessarily.
- •Providing PAN or Aadhaar is mandatory for gold purchases over Rs 2 lakh as per Section 139A and Rule 114B of the Income Tax Rules, 1962.
- •Failure to provide PAN/Aadhaar or submitting false information can lead to transaction refusal, penalties for jewelers, or notices from the Income Tax Department.
Why It Matters: Experts advocate raising the gold purchase PAN/Aadhaar limit to ease transactions for buyers amid rising prices.
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