Gold Storage Rule: You can keep this much grams of gold at home, know the income tax rules..

Gold storage limit in India: Gold has special significance in India. Here marriage is considered incomplete without gold, and it is considered the safest investment for bad times. Gold is also associated with our traditions, so its purchase at festivals is considered auspicious. Gold is not only seen to fulfill the hobby of jewelry but also as an important asset for investment.

Limit of keeping gold at home-

It is safe to keep gold in a bank locker, but some jewelry is also kept at home. However, let us tell you that there is a fixed limit for keeping gold at home under the Income Tax Act of the Government of India. If you keep more gold than this limit at home, then you will have to give its source or valid proof of purchase. We will tell you about this rule in detail.

If you have documents, you can keep unlimited gold-

For those who have all the necessary documents related to income, tax, and gold, there is no limit to keeping gold at home. This means that such people can keep as much gold as they want in their houses. But, if you do not have the necessary documents related to income and tax, then you can keep gold at home only within a limit. Let us know what is the limit of keeping gold for married women, unmarried women, and men.

Women can keep this much gold-

According to the Income Tax Law, a married woman can keep 500 grams of gold with her, while for unmarried women this limit has been kept at 250 grams.

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On the other hand, if we talk about men, then they are allowed to keep only 100 grams of gold at home. Please note that this limit for keeping gold at home is per person (Gold limit per person in India). For example, if there are two married women in the family, then the combined limit of both will allow for keeping up to 1 kg of gold at home.

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