By Admin 
Gold storage limit at home: Gold purchases in India are not only done as jewelry to decorate, but it is also an important part of investment. Apart from this, gold shopping is considered auspicious on all occasions from marriage to all occasions. Its tradition has been going on for a long time.
There is such a tremendous craze of gold in India that people collect it with generations, but do you know how much gold can be kept at home? How much has its limit fixed? Do you know that the Income Tax Department keeps an eye on your gold shopping and you can get a notice if you keep gold more than the fixed limit or your home can be raided. Come, today we give you information about the rule of storing gold at home so that you know how much gold can be kept legally at home so that we are avoided from income tax investigation.
Rules are different for everyone
The rules of procurement and storage of gold in India are different for men, married and unmarried women. Married women are allowed to keep gold up to 500 grams of gold. Unmarried women can keep 250 grams of gold and up to 100 grams of gold.
If you have more gold than this limit, then for that you should have a declaration in bill or income tax return. If you have a valid proof, you can store any amount of gold. This limit of the Income Tax Department applies to gold without documents. That is, no matter how much sleep is needed, it is necessary to be proof.
Does gold storage levy tax?
If you have purchased gold from declared income or by purchasing it, such as farming or gold is legally inherited, it will not be taxed. If you store gold in the fixed limit or the limit is high, but it has a valid proof, then even if there is a raid, your jewelry cannot be confiscated. There is no tax on gold storage in the house, but if someone sells gold, then he has to pay tax on it.
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