PDF Download Link : Gold Possession Limit in India
| As Per CBDT Press Release Dated 1st Dec 2016 : | |
| There is NO LIMIT on the holding of Gold (Jewellery or Ornaments) if you have proper explanation of the source income, investment or inheritance.
आप जितना चाहे उतना सोना (आभूषण या अलंकार के रूप में) रख सकते है लेकिन आपके पास |
|
| But, even without proper proof or justification or source of income, one can hold such qty of gold as mentioned below :
लेकिन बिना किसी उचित/सही जवाब या प्रमाण के भी आप नीचे दिये गये लिमिट तक सोना रख सकते है : |
|
| Note : But, you must make proper statement if asked by the Assessing Officer. | |
| Description | Limit Per Person in a Family (As Per CBDT Instruction No. 1916) |
| A Married Woman (एक विवाहित महिला) | 500 gm |
| An Unmarried Woman (एक अविवाहित लड़की) | 250 gm |
| A Male Member (एक पुरुष) | 100 gm |
| Note : If you are holding Gold within the limit, Income Tax Department will not seize that Gold even if the same does not seem to be matching with the income/investment record of the assessee. | |
| One can hold even higher Qty of Gold and it will not be seized by the Income Tax Deptt. :
आप ऊपर दिये गये लिमिट से ज्यादा सोना भी रख सकते है और इन्कम टैक्स डिपार्टमेंट उसको जब्त नहीं करेगा, अगर : |
|
| 1 | With Investment or Income Proof or Gift Deed |
| 2 | As per Social Status & Family Tradition |
| (Note : In this case- Social status of the family, Customs and tradition will be analysed by the Tax – officer) | |
| Valid Proofs | |
| 1 | Investment Proof/ Purchase Invoice |
| 2 | Gift Deed/Purchase Invoice in the name of Initial Owner |
| 3 | Source of Income |
| Note : If Proper Justification of possession of Gold is not available, then Deptt can confiscate the Gold beyond the Limit Prescribed above. | |
| Example | |
| Particulars | Gold Possession (Weight in Grams) |
| Male Member (Ram) | 100 |
| Male Member (Laxman) | 100 |
| Married Woman (Sita) | 500 |
| Married Woman (Urmila) | 500 |
| Unmarried Woman (Manthra) | 250 |
| Received with Gift -Deed | 100 |
| Total Allowed Jewellery that can’t be seized | 1550 |
