Married Women Allowed 500 Gram Gold, Unmarried ...

Married Women Allowed 500 Gram Gold, Unmarried Women 250 Gram, Clarifies Government! Clean Discussion Only.

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http://www.ndtv.com/india-news/no-tax-on-ancest...

Married Women Allowed 500 Gram Gold, Unmarried Women 250 Gram, Clarifies Government!!


Have been discussing this topic offline too much since few days!

What do you think? How much gold is legitimate to have?

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Deal Captain
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Only the normal people will ultimately be harassed by this rule. The real rich & sourceful will bribe the officials upto their mouth.
https://cdn1.desidime.com/assets/textile-editor/icon_biggrin.gif

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Deal Lieutenant
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Wht about men?

Edit: 100gm, not pacchas tola. Whether married or not https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

Govt says Men will be Men. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

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Deal Captain
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mr.lonely wrote:

Wht aboutmen?

100gm

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mr.lonely wrote:

Wht aboutmen?

100 GM is too less.

Please Note 100GM for Male Person is for those who are not paying Tax!

If you are paying Tax every year For ex: 1 Lakh, 2 Lakh, 3 Lakh….and so on.
Then you can have relative Gold with you.

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Deal Cadet
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hese wrote:

http://www.ndtv.com/india-news/no-tax-on-ancest...

Married Women Allowed 500 Gram Gold, Unmarried Women 250 Gram, Clarifies Government!!

—————————————

Have been discussing this topic offline too much since few days!


What do you think? How much gold is legitimate to have?

and with that
new confusion and more back and forth changes to these absurd daily soap

Many courts, including the highest court in India has granted legal status to “live-in” jeans relatiinships
Those women don’t get to keep 500?

@nd what of “stree dhan”? (wherever applicable, depending on community or releguon and corresponding law)

lastly, inheritance and gifts (subject to wealrh tsx @nd all) have differnt porvizon so then now?

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Deal Cadet
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hese wrote:

100 GM is too less.


Please Note 100GM for Male Person is for those who are not paying Tax!

If you are paying Tax every year For ex: 1 Lakh, 2 Lakh, 3 Lakh….and so on.
Then you can have relative Gold with you.

@ny relative’s gold?

Barfi Lehari is my relative
https://cdn0.desidime.com/attachments/photos/148597/medium/bappi_lahiri.jpg?1480614183
thumbs up if rules alliw me to keep half his

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Deal Subedar
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these are not new rules. have been in existence since 1994. only reiterated.
also, does not apply to digital gold (ETF/Gold bonds)

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Deal Newbie
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U can have all the gold in the world, no limit if bought from tax paid money, inherited, heirloom. Todays news is misleading as most tv wala r a big arse hole. The 500gm etc rule is ther since 20+ yrs & addresses only search & seizure part. Even if u have 1 gm gold or anything bought from undisclosed untaxed income u r in trouble, forget 500gms

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Deal Newbie
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500gm etc limit means if during IT raid u r caught with less than 500gm then it wont be seized & kept wid IT till case is decided. It doesnt mean that u cant hold more than 500gms.

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Deal Cadet
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panchabhut wrote:

these are not new rules. have been in existence since 1994. only reiterated.
also, does not apply to digital gold (ETF/Gold bonds)

+1

but like everything else
and everywhere else
selective enforcement
or a show of it can help get footage

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Deal Subedar
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dont be confused guys .
1. this is old same rule from 1994 which is clarified today to stop rumors saying that govt will seize lockers/gold etc.
2. you can corss check do google this – " instruction no. 1916 (f.no. 286/63/93-it(inv.ii), dated 11-5-1994 "
3. 500gm limit and other aforesaid lmits are only which you can keep it even if you are not assessed to wealth tax .

Read This -

part of CBDT circular 1916 dated 11-5-1994 .

"""
5. For better appreciation of the issue involved in these cases, it would be appropriate to refer to the Board Instruction No.1916 [F.No.286/63/93-IT (INV.II)], dated 11.5.1994, which reads as under:
“Instruction No.1916 [F.No.286/63/93-IT (INV.II)]
Guidelines for seizure of jewellery and ornaments in course of search 11.5.1994
SEARCH & SEIZURE
SECTIONS 132,
Instances of seizure of jewellery of small quantity in course of operations under s.132 have come to the notice of the Board. The question of a common approach to situations where search parties come across items of jewellery, has been examined by the Board and following guidelines are issued for strict compliance—
(i) In the case of a wealth-tax assessee, gold jewellery and ornaments found in excess of the gross weight declared in the wealth-tax return only need be seized.
(ii) In the case of a person not assessed to wealth-tax, gold jewellery and ornaments to the extent of 500 gms per married lady, 250 gms per unmarried lady and 100 gms per male member of the family, need not be seized.
(iii) The authorised officer may, having regard to the status of the family and the custom and practices of the community to which the family belongs and other circumstances of the case, decide to exclude a larger quantity of jewellery and ornaments from seizure. This should be reported to the Director of Income-Tax/Commissioner authorising the search at the time of furnishing the search report.
(iv) In all cases, a detailed inventory of the jewellery and ornaments found must be prepared to be used for assessment purposes.”
"""

PS – in short , understand simple thing that whatever you have whether in millions or billions if that thing is bought/earned from legal way and paid taxes then no can touch you , that’s all .

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Deal Lieutenant
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I assume what will happen with Bappy Lahri now https://cdn2.desidime.com/assets/textile-editor/icon_rolleyes.gif

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Deal Lieutenant
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Amit Goyal wrote:

I assume what will happen with Bappy Lahri now https://cdn2.desidime.com/assets/textile-editor/icon_rolleyes.gif

He will sing… https://cdn1.desidime.com/assets/textile-editor/icon_biggrin.gif
.
Yaad aa raha hai mera pyar…. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

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Deal Subedar
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https://i.imgur.com/Iy1gMhW.jpg

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