377 Points
Joined June 2019
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.