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IT dept eyes gold importers

IT dept eyes gold importers

After the Central government and the Reserve Bank of India, a fresh hurdle for gold importers comes from the Income Tax department.

For, information of Indians bringing in gold from foreign countries after duty payment will be shared with the Income Tax department by customs authorities.

This latest move is to check suspicious ferrying of the yellow metal into the country, whose people are possessed about gold.

"The PAN card details of these flyers are being shared with Income Tax department to ascertain source of their income and avoid possibility of any wrongdoing,” a senior DRI official was quoted as saying.

The Directorate of Revenue Intelligence (DRI) is an Indian intelligence agency. The Directorate is run by officers from Central Excise and Customs.

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