365Telugu.com Online News, March 15, 2025: In India, gold is not just an investment but also holds deep emotional significance. People mostly prefer buying gold during weddings or festive seasons. Do you know how much gold you can legally store at home? Let’s explore the key rules related to gold storage.
Gold Buying and Storage in India
Buying gold is considered highly auspicious in India. Most people purchase gold during weddings or special occasions. Indian women especially love wearing gold jewelry, and many individuals buy and store gold in advance for their children’s weddings. However, there is a legal limit to how much physical gold you can keep at home.
If the gold stored at home exceeds the permitted limit, you may have to answer to the Income Tax Department. Therefore, before purchasing gold, it is essential to understand the related regulations.
Gold Storage Limit: How Much Gold Can You Keep at Home?
According to the Central Board of Direct Taxes (CBDT), certain purchases do not require tax payments. As per available information, gold acquired through inheritance or within a specified limit does not attract any tax. Similarly, there is no tax on gold purchases made using income from businesses, shops, or agricultural activities.
If you store gold within the legally permitted limit, no authority can conduct an official search. Here are the limits for different categories:
- Unmarried Women: Can store up to 250 grams of gold.
- Unmarried Men: Allowed to keep only 100 grams of gold.
- Married Women: Can hold up to 500 grams of gold.
- Married Men: Can store only 100 grams of gold at home.
Gold GST & Taxation: How Much Tax Do You Need to Pay?
If you sell gold, the income earned from the sale is subject to taxation. As per CBDT guidelines:
- If you sell gold within three years of purchase, you must pay Short-Term Capital Gains Tax (STCG).
- If you sell gold after three years, you are liable to pay Long-Term Capital Gains Tax (LTCG).
Understanding these rules can help you make informed decisions while buying, storing, and selling gold in India.