Gold Storage Limit in India

Married Female	500 gms
Unmarried Female	250 gms
Married Male	100 gms
Total	100 gms
950 gms	100 gms

For example, if you are in a family of three - husband, wife and an unmarried son, then the total acceptable amount of gold jewellery in your house will be:

Husband (Married Male): 100 gms

Wife (Married Female): 500 gms

Son (Unmarried Male): 100 gms

Total gold allowed: 700 gms

The above specified limit includes both purchased as well as inherited gold. This much amount of gold will not be seized in case of a raid even if supporting documents are not present.

Source of gold investment:

When buying gold, it is important to take and preserve your tax invoices, be it bullion or jewellery. If you can justify the source of gold investment, you need not worry. In 2016, the Central Board of Direct Taxes (CBDT) had mentioned in its press release, that there is no limit on holding gold jewellery if the source of inheritance or investment can be explained. However, it is essential that your ITR corresponds to the amount of gold you are holding. Otherwise, the assessing officer holds the authority to confiscate the gold held.

Check Gold rates in metro cities

1. Today's Gold Rate in Delhi
2. Today's Gold Rate in Mumbai
3. Today's Gold Rate in Chennai
4. Today's Gold Rate in Kolkata
5. Today's Gold Rate in Bangalore
6. Today's Gold Rate in Hyderabad
7. Today's Gold Rate in Pune
8. Today's Gold Rate in Coimbatore
9. Today's Gold Rate in Ahmedabad

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FAQs on Gold Storage Limit in India

• What are the things that I must look for when purchasing gold?

  Things that you must keep in mind before purchasing gold are hallmark, weight of the gold, and the maker of the gold. You must keep these factors in mind while purchasing gold as it will help you ensure that you are purchasing gold pure in nature and as well as help you pay the correct price for the metal purchased.

• Can I sell my gold without a bill?

  It is not necessary to produce a bill when selling gold for fast cash. However, it is advised that you present any government-issued identity proof.

• Which gold is best to invest in?

  If you are looking forward to long term investment then 24 karat gold is the best option. If you are looking forward to making jewellery, then investing in 22 karat or 18 karat gold would be a better option.

• What to check while buying gold jewellery?

  The below-mentioned are a few points one should note when buying gold jewellery: Check the purity of gold used while making the jewellery, i.e. 22 karat or 24 karat, check if the ornament is hallmarked and check the making charges applied.

• Is gold important for a nation's economy?

  Yes, gold is important for a nation's economy. It directly indicates whether a nation's economy is in good condition.