Thursday, December 15, 2016

No tax on inherited jewels or bought from 'disclosed income'

The Finance Ministry drew attention of instruction No.1916 which provides that during the search operations, no seizure of gold jewellery and ornaments to the extent of 500 grams per married lady, 250 grams per unmarried lady and 100 grams per male member of the family shall be made. Further, legitimate holding of jewellery up to any extent is fully protected, the release added.

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