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Will gold holdings be taxed? All your queries answered here

If you can satisfactorily explain the source of income, then you can hold any amount of gold without being taxed

Amarpal Chadha 

Are you worried that the income tax department could conduct a search on your personal gold holdings? Read the following FAQs to understand the issue: How will the government know how much gold I have? The tax department has the right to conduct searches if it has information or reason to believe that a person is in possession of undisclosed money, bullion, jewellery, etc.

If any gold or jewellery is found and the person can’t explain the source, it is liable to tax. Will my gold be taxed? In case you are not able to explain the source of income for purchase of ...

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First Published: Mon, December 05 2016. 09:26 IST