Income Tax on Home Gold, Need to Tell Unaccountable Gold Collection

Income Tax on Home Gold Latest news on Ghar mein Rakhey sona par tax lagega Gold certificate to save from income tax fine Gold Amnesty scheme. Need to Tell Unaccountable Gold Collection. After Demonetising India with old notes to stops black money coming from various part of World and in India. Central Govt yet another going to take major steps on Gold and it may impact those housewife who purchase gold in Diwali, During Demonetisation time and other season. Main objective of government is to black money scheme from gold. Government only wants you to purchase gold with receipt, whether you are business men or family men. Government may soon release Income Tax Slab on Gold and may launch Amnesty Scheme that favours tax on gold. Sources said Department of Economic Affairs and the Department of Revenue organise meeting to look up matters of Gold economics and Vitt Mantralaya said proposal to cabinet for approval. Due to Haryana and Maharashtra Election meeting was postponed on final result.

Gold Evaluation Certificate: If amnesty scheme applied than public has to ask shopkeeper to give original receipts that they can show at the time of income raid in their home.

Posting Date: 31st October 2019.

1. Income Tax Gold Scheme will be for some time interval.
2. Amnesty scheme on Gold is related to 2014-16 year.
3. Black Money on Gold and to encourage people for purchasing gold bond Sovereign Gold Bond 4. 4. Scheme govt may make some reasonable offers.
5. Mandir and trust will also come in line Gold Tax.

Indian Temples and Trust holds large amount of Gold in tonnes and it is un recognisable by Govt. all types of gold saved by Temples and Trustee were to their related banks.

Scheme Name: income tax amnesty scheme, the gold amnesty scheme.

What to Do if you have cross limit of Gold Collection: You need to disclose all types of gold jewellery with its receipt. Gold holding limit will be fixed under the scheme. Once the scheme is closed, heavy fines will be imposed on those holding black gold beyond the prescribed limit.