How much amount gold purchase finical year
Kollipara Sundaraiah (B.com) (3005 Points)
06 November 2021Kollipara Sundaraiah (B.com) (3005 Points)
06 November 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 07 November 2021
Shankar Rugge
(377 Points)
Replied 07 November 2021
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.
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 12 November 2021