PM Narendra Modi's recent gold pause prompted CBDT jewelry clarification
India
Recently (May 2026), PM Modi asked people to pause their gold purchases for a year to help the economy and cut down on imports.
This move got everyone talking about how much gold you can actually keep without getting into trouble during tax checks.
According to the CBDT, gold jewellery/ornaments up to the specified limits are generally not seized during income tax raids, with married women allowed up to 500gm, unmarried women up to 250gm, and men up to 100gm.
Exceeding jewelry limits risks 78%+10% penalty
If you own more than these limits and can't explain where they came from, be ready for a hefty tax—up to 78% plus an extra 10% penalty.
Also, these rules only cover jewelry. So if you're thinking of investing in gold, it's worth knowing the fine print.