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Gold Storage Limit

Gold Storage Limit

Gold Stoarage Limit

  • There is no restriction how much gold an individual can hold. Here gold does not only means Jewelry, but it also includes gold coins, gold bars, and other forms.
  • The Income Tax Department will not seize Jewelry and ornaments to the extent to these limits, even if the same does not seem to be matching with the income record of the assessee.
  • CBDT specifies that a married lady is allowed to keep up to 500 grams of gold jewelry: an unmarried lady can hold up to 250 grams and a male member of the family can keep up to 100 grams of gold ornaments and jewelry. It includes both inherited and purchased gold jewelry. Even if you don’t have supporting documents for the above amount of gold jewelry, it will not be seized. However, it does not include gold coins and bars
  • If there are 4 members then Married female: 500 grams, Unmarried female: 250 grams, Married male: 100 grams, Unmarried male: 100 grams i.e. total 950 grams of gold can be kept
Gold Storage limit in India