Gold storage rules: How much gold can you keep at home? Know the rules

Gold storage rules: Every Indian loves Gold. In every festival or marriage, you will see people wearing gold ornaments. But only ornaments; there are so many people investing money in gold over the years. If you are also a gold lover, then this article is for you. Through this article, you will learn how much gold you can keep at home. Yes, you’ve heard right.

Gold is not only a metal; it’s an emotion to the Indians. In Durga Puja or Diwali, many people like to buy gold bars or many types of gold jewelry. Buying gold on Dhanteras or any puja festival is considered very auspicious. People start buying gold for their children’s marriage in advance and keeping it at home. In such a situation, many people do not know that if they keep more gold in the house than a limit, then they have to account for it.

Gold Storage rules

Many people don’t know that investing in gold is a very good option, but it is very important to keep it under the fixed limit at home. If you keep more gold than the limit, then you have to know some rules.

According to the rules of the Central Board of Direct Taxes (CBDT), there is no tax on the sources of revenue for income and exemption. If the gold in the house is under the fixed limit, then the income tax official cannot take gold jewelry from the house during the search.

How much gold can you keep?

1. An unmarried woman can keep up to 250 grams of gold in the house.

2. Unmarried men can keep only 100 grams of gold.

3. At the same time, a married woman can keep up to 500 grams of gold in the house.

4. Married man The limit for keeping gold in the house for a man is 100 grams.

What are the tax rules for physical gold?

According to the CBDT circular, unmarried men or married men can keep only 100 grams of physical gold. At the same time, unmarried women can keep 250 grams and married women can keep 500 grams of gold in physical form.If gold is sold within 3 years of purchase, then the government imposes a short-term capital gains tax on it. At the same time, long-term capital gains tax is to be paid on selling gold after 3 years.