By Admin 
Gold Rules: In India, gold is not only a part of jewelry but also a part of tradition and investment. There has been a tradition of buying gold on every occasion from marriage to festival. People usually consider gold safe saving and strong support for the future. But very few people know how much gold can be kept in the house.
Has the Income Tax Department made rules for this? Has any limit has been fixed for this? If you keep more gold than that limit, then what action can be taken. If you invest in gold or keep gold at home. So it is important for you to know whether the government has made some rules for this. And what is the limit to keep gold? Know the rules.
Is there a limit to keep gold at home?
The Income Tax Department has set a limit to keep gold. Marid woman can keep gold up to 500 grams. Anmarid women can keep 250 grams of gold and up to 100 grams of gold. There is no tax or legal action till this limit. If you have more gold.
And you show the declaration for him in proper bill or income tax return. So there is no restriction. Let me tell you that this limit applies only to that gold. Who does not have a document. If you have gold proofs, then you can also keep more quantity and there will be no problem on it.
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When can there be a problem?
Can you have trouble by keeping more gold at home? So let us tell you if you have more gold than fixed limit. But you are unable to prove proper bill or legal source for him. So the Income Tax Department can take action. Many times extra gold is also seized during raids. Similarly, if you do not match the assets declared in your income tax return and gold found in the house.
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Even then investigation can begin. Therefore, it is necessary to take authentic bill always while buying gold. If you are investing in a big amount, it is prudent to include it in ITR. This will save you from any legal trustee and there will be no problem in selling or mortgaging gold in the future.
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