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How much amount gold purchase finical year
it assess how much amount limit purchase of gold (jewellery) one financial year in it act.
Replies (3)
Quick Summary
There is no such limit
CBDT had clarified that jewellery and ornaments to the extent of 500 grams for married lady, 250 gms for unmarried lady and 100 gram for male will not be seized, even if prima facie it does not seem to be matching with the disclosed income records of that individual. “Therefore till the time the source of income for the acquisition of gold is in place, the assessee shall not be afraid of any raid by income tax,” she said.
Thanks for the information
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