Thursday, 8 October 2015

A Comment on making PAN must for cash transaction above certain limit

My Comment on an article "Government to soon make PAN must for cash spending beyond a limit" published in the Dated 07/10/2015 at 4:50 pm.

"I hope this will be a better way for tracking transactions more accurately. 

Making PAN mandatory for all cash withdrawals exceeding Rs.20,000 and for each purchase above Rs.50,000 can be a good measurement of authenticity of transactions. 

This will help in preventing unauthorised transactions and use of black money in most cases. Even though, it may not curb all transactions where the hoarders have already much unaccounted cash with them and thereby do not use banks or any registered / recognisable means of trading."

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