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Gold limit news: Often, you have seen that many people keep gold jewellery at home. But do you know that rules have also been made for keeping gold at home? There is a limit to keeping gold at home, which is very important to know. If you cross it, then it can become a big problem for you.

Collecting too much gold (how much gold should be kept at home) can not only put your safety at risk, but it can also take away your peace (Gold limit rules). Keeping the right amount of gold is the safest way, otherwise, you may have to face a huge loss.

Who can keep how much gold -

There are some special rules for keeping gold in homes in India, which are very important to follow, so that any legal trouble can be avoided. In this, married women can keep up to 500 grams of gold (gold limit for married women), while unmarried women can keep up to 250 grams of gold (gold limit for women), but tax has to be paid for keeping more than this.

For men, this limit is 100 grams (gold limit rules for gents), whether they are married or unmarried, because these rules are the same for all men. If a person keeps more gold than these limits, then tax is levied on it, which is necessary to pay legally.

Which gold is not taxed -

If someone inherits gold, then there is no tax on it (tax-free gold), and it is completely tax-free. But if he sells the gold, then tax will have to be paid on it, and for this, some important documents will have to be presented. For this, it is necessary to have a legal document of that gold, so that it can be proved that the gold was inherited (tax on gold). In this way, it is very important to keep the right documents in the purchase and sale of gold, so that any kind of problem can be avoided.

These people can keep so much gold -

There is no fixed limit for gold storage in India, whether it is in the form of jewelry, coins, or fine gold. However, if a person has a large amount of gold (gold limit rules for home), then he is required to provide proof of his income. This information is sought during tax assessment, so that it can be ensured that there is legitimate income behind the storage of gold. If there is no proof, it will be considered a violation of the rules and action can be taken.

How much gold can be kept at home under the rules of CBDT -

According to the guidelines of the Central Tax Department i.e. CBDT, if a person has purchased gold or jewelry from legitimate income such as agriculture, savings or inheritance, then there will be no tax on it. As long as the items purchased come from the right income, there will be no set limit (limit of gold accumulation) to own them. Under this rule, there is no need to tax metal or jewelry purchased in a manner approved by law.

How much cess is levied -

If you sell gold within three years, then you will have to pay tax on it (sona bechne par tax), which will be according to the normal income tax rate. But if you have sold gold after three years or more, then a different kind of tax (tax on gold selling) will be levied on it.

In this tax, you have to calculate the profit by increasing the purchase price according to inflation, and then tax is levied on it. Along with this, there are some additional charges in the tax. On this tax, you will also get 4 percent cess (cess on gold sale) along with 20 percent indexation (gold selling rules) benefit, which is used after inflation, so that the rate of purchase of gold can be adjusted.

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