INCOME TAX6 Sept 2026
How much gold can you keep at home without worrying about seizure? Know what the 500g, 250g and 100g limits mean | Mint
There is no legal limit on owning gold if you bought it with explained money. The 500g, 250g and 100g figures only show what tax officers normally won't seize during a raid. If you hold more, you just need to prove the source with bills, inheritance papers, or gift deeds. Otherwise, gold may face tax up to 78% plus penalty.
Key Statutory Highlights
- Gold ownership has no limit if acquired legally from explained sources, including inheritance.
- The 500g, 250g and 100g limits are only seizure guidelines during income-tax searches, not ownership caps.
- Unexplained gold can be taxed at 78% (60% tax, 25% surcharge, 4% cess) plus a 10% penalty.
- Officers may not seize even higher quantities considering family customs and traditions.
Actionable Advice for Taxpayers / Founders:Keep purchase bills, bank withdrawal records, inheritance documents, or gift deeds safely to prove the source of every gold item you hold.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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