๐ก Gold Holding Limits under Income Tax Act ๐ซ No tax officer can seize your gold jewellery if it is within these limits (even if not explained by income): ๐ฉโ๐ฆฐ Married woman โ up to 500 gms ๐ฉ Unmarried woman โ up to 250 gms ๐จ Male member โ up to 100 gms ๐ Excess gold can be
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@R_N_Vaghani Getting salary income only . Paid tax . Bought using white money, have receipt of all the holdings - can I keep more than 100gm?
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@R_N_Vaghani What about jewelry studded with diamond? No clarity by the department. Let me clear if jewelry is not kept with identification mark of specific person it is very difficult to get it clear from 1st stage itself
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@R_N_Vaghani Quick fact-check: these arenโt legal โholding limits.โ Theyโre CBDT non-seizure thresholds during raidsโ500g (married), 250g (unmarried), 100g (male). Unexplained extra can still face taxโkeep invoices/wealth disclosure
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@R_N_Vaghani These are non-seizable limits during raids. They are not taxation limits or ownership caps โ you can hold more gold if you can explain its source (e.g. inheritance, purchase with declared income, gifts, etc.).
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@R_N_Vaghani Stree dhan cannot be touched ! Many parents pass on gold to the next generation
@manoj_216 Most gold in India is passed down generations - how do they provide receipts for short term or longer term capital gains ? Removing indexation on all asset classes was a crime committed by govt on its people
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@R_N_Vaghani Is this applicable for our demate account ? How much gold and silver I can buy in my demat account?
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@R_N_Vaghani Act forgets to add the limits for corrupt IAS officers who amassed gold more than this Income Tax is unfair by not giving them this choice
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@R_N_Vaghani Partially incorrect. The limits are only for exemption from seizure. If gold is unexplained, it will be added as income. The limit doesnt mean you dont have to explain it. If the social stature of the assessee is such that he cant afford even 50g, it'll be treated as unexplained
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@R_N_Vaghani This is through departmental instructions which are subject to one rider age and status of the subject though in practice applied as rule of thumb
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