Akshaya Tritiya gold buying in India no limit documentation required
India
Thinking of buying gold for Akshaya Tritiya?
Here's what you should know: there's no official limit on how much gold you can own in India, but you do need to show where it came from if asked.
The key is having proper documentation, especially if your stash is on the heavier side.
Tax searches allow gold married500g/unmarried250g/men100g
During tax searches, married women can keep up to 500gm of gold, unmarried women up to 250gm, and men up to 100gm during search proceedings for gold jewelry and ornaments (no questions asked or documents needed).
If you have more than that, just keep proof like receipts or gift or inheritance papers handy.
Also, if your annual income is over ₹1 crore, remember to declare your gold holdings in your tax return.