Gold storage limit in India: Gold is given special importance in India, where any wedding is incomplete without it, gold is also seen as the safest investment for bad times. It is also associated with our tradition, so buying gold at festivals is considered auspicious. Through gold, not only can your hobby of jewelry be fulfilled, but it can also be seen as an asset in terms of investment.
Limit of keeping gold at home
Most people prefer to keep gold in bank lockers keeping in view the safety, yet they keep some jewelry at home. But do you know that under the Income Tax Rules of the Government of India, there is a limit to keeping gold at home? If you keep more gold than this fixed limit at home, then you will have to give proof of it. Today we will tell you about this.
If you have documents, you can keep unlimited gold.
For those who have all the necessary documents related to income, tax, and gold, there is no limit to keeping gold at home. This means that such people can keep as much gold as they want in their homes. 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 Law, a married woman can keep 500 grams of gold with her, while for unmarried women this limit has been kept at 250 grams.
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 a per-person basis (Gold limit per person in India). For example, suppose there are two married women in the family, then both their limits combined will be allowed to keep up to 1 kg of gold in the house.
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