Gold Storage Rules: How Much Gold Can You Keep?
Mumbai, 15th March 2025: In India, gold is more than just a precious metal—it is a symbol of prosperity and tradition. Many people purchase gold during weddings and auspicious occasions, with families often accumulating gold jewelry for future events, especially marriages.
However, there are legal limits on how much gold individuals can store at home. Exceeding these limits may lead to scrutiny from the Income Tax Department. Therefore, before making large gold purchases, it is crucial to understand the regulations surrounding gold ownership and storage.
As per the Central Board of Direct Taxes (CBDT) guidelines, individuals are allowed to keep gold within certain limits without having to explain the source of acquisition:
- Married Women: Up to 500 grams
- Unmarried Women: Up to 250 grams
- Married Men: Up to 100 grams
- Unmarried Men: Up to 100 grams
These limits ensure compliance with tax regulations. If the quantity remains within these thresholds, individuals do not have to worry about tax scrutiny or raids.
Tax Implications on Gold Sales
When selling gold, capital gains tax applies depending on the holding period:
- Short-Term Capital Gains (STCG): If gold is sold within three years of purchase, profits are taxed as per the individual’s income tax slab.
- Long-Term Capital Gains (LTCG): If gold is sold after three years, a 20% tax with indexation benefits is applicable on the profits.
Gold Prices Surge Post-Holi
Meanwhile, the price of gold has surged following Holi. On March 15, the price of 24-carat gold increased by ₹600 per gram, reaching ₹8,876.30 per gram, up from ₹8,276.30 per gram on March 14.
Similarly, 22-carat gold is now priced at ₹8,138.30 per 10 grams, marking a ₹550 increase.
With rising gold prices and strict storage regulations, individuals should stay informed to ensure compliance and make informed investment decisions.
