What is the exemption limit of keeping silver ?

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1. As per IT rules keeping of gold in the family is expempted upto 500 gms per married lady, 250 gms per unmarried lady, and 100 gms per male member . . question is whether this 500 /250 /100 gm needs to be in the form of jwellery, or it can be in the forms of gold bars /coins ? . . . . 2. NOW another important question pls :: What is the exemption limit of keeping SILVER per person or per family ?? This information does not seem to be available readily . . . Pls help Thanks
Replies (1)
Quick Summary
Gold limits of 500g 250g 100g apply mainly to jewellery for search tolerance. No specific exemption limit is prescribed for holding silver. Taxability depends on source, disclosure, and wealth or income records.

As such no limit found, but may very individually as per wealth tax return filed.


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