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How Much Gold Jewellery Can You Keep In India?

How much gold can Married women, Un-Married women or men keep in India? Check gold limit. 

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How Much Gold Jewellery Can You Individually Keep?
How Much Gold Jewellery Can You Individually Keep?

As per Central Board of Direct Taxes (CBDT) 1994 circular, there is an authorised threshold for keeping Gold Jewellery And Ornaments. For such authorized threshold for keeping gold individually, no proof of investment is required.

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Threshold For Possessing Gold
Threshold For Possessing Gold

The CBDT circular has prescribed limits for the quantity of jewellery and ornaments that people can possess or keep as individuals

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Authorised Limit For Possessing Gold Individually
Authorised Limit For Possessing Gold Individually

Married women are allowed to keep or possess up to 500 grams of gold

Unmarried women are allowed to keep or possess up to 250 grams of gold

Men are allowed to keep or possess up to 100 grams

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Gold Purchase Transaction Limit
Gold Purchase Transaction Limit

If you purchase gold worth Rs 2 lakh or above, you will have to furnish your PAN card details and this is mandatory under Section 114B of the Income Tax Rules

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Gold Purchase: Cash Transaction Limit
Gold Purchase: Cash Transaction Limit

You can buy gold up to Rs 2 lakh only with cash, an amount exceeding this has to be paid through card or cheque along with PAN card details 

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Gold Purchase: Per Day Cash Transaction Limit
Gold Purchase: Per Day Cash Transaction Limit

Under section 269ST of the Income Tax Act, you cannot do cash transactions exceeding Rs 2 lakh in a day for purchasing gold

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Gold Purchase: Income Tax For Cash Transaction
Gold Purchase: Income Tax For Cash Transaction

Purchasing gold for amount more Rs 2 lakh in cash in a single day, is subject to penalty equivalent to the cash transaction amount under Section 271D of the Income Tax Act.





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