The speed at which gold prices are increasing has suddenly turned the cupboards of many houses into safes worth crores. Those families who have ancestral jewelery or whose bills have been lost years ago, have a fear in their minds that if they keep too much gold then they may get raided by Income Tax? Will unbilled gold be confiscated? It is very important to know the answers to these questions today.

Concern increased with rising gold prices

In recent times, gold prices have reached record levels. In such a situation, the value of the families who have jewelery stored for years has now gone from lakhs to crores. This is the reason why people are worried that they might face legal problems if they keep too much gold. Especially when the jewelery bills are not present.

Is it illegal to keep unbilled gold?

First of all, it is important to understand that keeping unbilled gold is not illegal in itself. Income tax laws have been made not to harass common citizens, but to curb black money. If the gold you possess was purchased legally, inherited or received as a family gift, it is not considered illegal merely because it does not have a bill.

What are the income tax rules?

The rules say that if a person can explain that his gold comes from legitimate income, then there is no bar on keeping it. The Income Tax Department has also set a fixed limit, within which there is no need to disclose any source if gold is kept. These limits have been set keeping in mind the traditions of Indian society.

Limit fixed for women and men

According to income tax rules, a married woman can keep gold jewelery up to 500 grams. For unmarried women this limit has been fixed at 250 grams. Whereas men can keep gold jewelery up to 100 grams. This quantity is personal and is viewed as home use jewelry, not as investment or trading stock.

How much gold is legal for a normal family

If we talk about a normal Indian family, which consists of husband, wife and an unmarried daughter, then a total of 850 grams of gold is legally acceptable for them. This includes 500 grams for the wife, 100 grams for the husband and 250 grams for the daughter. The special thing is that it is not necessary to show any kind of bill for this quantity, provided the jewelery is for domestic use only.

How much does this cost in rupees?

According to today’s 22 carat gold prices, after adding making charges, the price of 850 grams of gold can be around Rs 1.07 crore to Rs 1.2 crore or even more. This means that if you have gold worth so much in your house, it can still be considered completely legal, even if you do not have its bills or any proof.

What are the rules in case of HUF

No fixed limit of gold has been set for Hindu Undivided Family i.e. HUF. Here the quantity of gold is assessed on the basis of family income, social status and traditions. If the family proves that the gold is commensurate with their income and status, then usually there is no problem.

what happens during a raid

These fixed limits are applicable only to that family against which income tax search action is taken. If during the raid, jewelery is found in the house which does not belong to the family members or to which there is no clear connection, then it can be confiscated. Therefore, it is important that the ownership of the gold kept in the house is clear.

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Gold Price Falls: After touching the sky, the price of gold is now seen to be a huge decline. After touching $ 3,500 an ounce in the international market in April, now gold is now trading at $ 3,140 with a decline of 10 percent. Gold has fallen 2 percent to the lowest level of five weeks as compared to the previous session. The main reason for this is the recent trade deal between the US and China.

Due to the tariff of Trump, two economic superpower of the world came face to face. However, after two days of talks between the two countries in Geneva, tariff cuts have been agreed for 90 days. The US has now announced to reduce the tariff over the goods imported from China to 145 percent to 30 percent, while China has reduced the tariffs above the goods imported from the US by 125 percent to 10 percent.

What will happen next?

Along with this, President Trump is constantly interacting with Japan, South Korea, India, America and Japan. On the other hand, some concessions can also be announced in the Syrian sanctions by President Trump in his visit to the Middle East. This can also reduce geopolitical stress. After the reduced global stress, there is now a decrease in demand in the international market of gold in the international market.

If we talk about India, gold has fallen to Rs 91,250 on Thursday. On April 23, the gold record was touching one lakh rupees. In such a situation, gold has fallen by 8.75 percent i.e. Rs 8,750 in a month.

What option does investors have?

The falling prices of gold continuously skeptical about the future in the minds of investors. they are afraid. However, market experts believe that gold prices in the domestic market may fall further and it can come between 87 thousand rupees 88 thousand rupees.

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Disclaimer: (The information provided here is being given only for information. It is necessary to tell here that the investment in the market is subject to risks. Always consult expert before investing as an investor. Abplive.com is never advised to invest money here.)

Gold Price Today 13 May 2025: The price of gold, which is considered the safest and better in investment, has increased on Tuesday 13 May 2025. According to the Indian Bullion Association, the price of gold in India increased to Rs 93,220 at 7.31 in the morning.

This bounce in the price of gold has come despite the reduction of tension in India and Pakistan. According to the Indian bullion in Delhi, gold is being sold at the rate of Rs 92,890 per ten grams. While Mumbai is trading at a price of 93,050.

Gold became expensive

Talking about Mumbai in this way, gold is being sold here at Rs 93,050, while in Bangalore, Rs 93,120 and Chennai is selling the maximum of Rs 93,320 per ten grams. It is worth noting that for the first time on MCX, 10 grams per 10 grams crossed Rs 97000 in the month of April. Here, the spot gold was trading in the international market at $ 3,235.37 an ounce, while the US Gold Futures rose 0.5 percent to $ 3,243.50 an ounce.

After the trade in the US and China, it has now reduced the tariff from 145 percent to 30 percent from the top of the goods imported from Beijing to 30 percent for the next 90 days. Whereas, China has reduced tariffs from US 125 percent to 10 percent.

Silver cheap

According to the Indian Bullion Association, after crossing one lakh rupees recently, gold is being sold at the rate of Rs 95,410 per kg on Tuesday. Due to tremendous demand and renewable energy technology and other electronics from the industry, its demand has increased. A day earlier, on May 12, on Monday, 24 carat gold was being sold in the national capital Delhi at the rate of Rs 9,882 and 22 carat gold at the rate of Rs 9,059 per 10 grams.

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Gold price today: Due to the tariff in the international market, there is a huge increase in gold prices continuously amidst the upheaval. The price of 10 grams per 24 carat gold was Rs 93,350, with its price to Rs 96,000 after imposing additional Goods and Service Tax (GST). The price of gold futures at the Multi Commodity Exchange (MCX) on Friday increased to Rs 93.340. Meanwhile, due to the conflict between the world’s two economic axis America and China, the trend of people is moving towards the purchase of gold.

According to the data released by the Indian Bullion and Jewelers Association (IBJA), 22 carat gold is priced at Rs 91,110 per 10 grams, while 20 carat gold is Rs 83,080, 18 carat gold is Rs 75,620 and 14 carat gold is Rs 60,210. In 2025, the price of gold has increased by about 20 percent to 10 grams of 16 thousand rupees per 10 grams.

Gold will cross one lakh

Experts believe that on the occasion of Akshay Tritia falling on April 30 this year, the possible price of gold will cross 1 lakh. The Economic Times, citing Jatin Trivedi, VP of Commodity and Currency in LKP Securities, said- Gold prices remain between 94,500 and 95000 at this time on support level 92,000. However, he did not say that the price of gold will cross one lakh on Akshay Tritia.

He said that at this time, domestic and international markets are being purchased more than estimated. The price of gold on comex remains at $ 3,240 to $ 3,260. Whereas in India, between 94,000 and 92,000 per 10 grams of India.

Market instability increased demand

The Economic Times, citing Commodity and Currency Head, analyst Anuj Gupta in HDFC Securities, also hoped to move forward gold. However, he said that the price of gold will cross 1 lakh by the end of April, it is too early to say.

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