Gold Storage Rule: You can keep this much grams of gold at home, know the income tax rules
Gold Storage Rule: Gold has special importance in India. Here marriage is considered incomplete without gold, gold is also associated with our tradition, so its purchase (Gold Buying) is considered auspicious on festivals. But today in this news we will tell you what is the limit of keeping gold for married women, unmarried women and men-
News, Digital Desk- ( Gold storage limit in India) Gold has a special significance in India. Here marriage is considered incomplete without gold, and it is considered the safest investment for bad times.
Gold is also associated with our tradition, so its purchase (Gold Buying) is considered auspicious during festivals. Gold is not only used to fulfill the hobby of jewelry, but is also seen as an important asset for investment (Gold investment).
Limit of keeping gold at home-
It is safe to keep gold in a bank locker, but some jewellery is also kept at home. However, let us tell you that under the Income Tax Act of the Government of India, there is a fixed limit for keeping gold at home.
If you keep more gold than this limit at home, then you will have to provide valid proof of its source or purchase. We will tell you about this rule in detail.
If you have the documents then you can keep unlimited gold-
For those who have all the necessary documents related to income, tax and gold, there is no limit on keeping gold at home. This means that such people can keep as much gold as they want in their home.
But, if you do not have the necessary documents related to income and tax, then you can keep gold at home only within a limit. Let us know what is the limit of keeping gold (Gold Storage Limit in India) for married women, unmarried women and men.
Women can keep this much gold-
According to the Income Tax Rules, a married woman can keep 500 grams of gold with her, whereas for unmarried women this limit has been kept at 250 grams.
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On the other hand, if we talk about men, they are allowed to keep only 100 grams of gold at home. Note that this limit of keeping gold at home is on per person basis (Gold limit per person in India).
For example, suppose there are two married women in the family, then the combined limit of both will allow keeping up to 1 kg of gold at home.