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Bullions seize

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(Querist)
03 February 2017 As per income tax circular 250gms of bullion cannot be seized..... does gift from parents is also included in it.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
03 February 2017 Not included in it if you have documentary proof for gift from parents. No proof such gift will be included in it.
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Shanti

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Shanti (Querist)
03 February 2017 If gold jewellery is converted into gold bars then will it be included in exemption limit
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
03 February 2017 Only gold jewelry is exempted.
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