00:00 Everyone likes to buy gold and the biggest reason behind it is that gold is considered a safe heaven.
00:06 There is no risk of the investment amount sinking in gold and you get a good return on it with time.
00:13 But many people when investing in gold, they definitely wonder how much gold can you buy in cash without a pen and Aadhar.
00:22 How much amount of gold is there or how much rule is made about cash, which you can buy without documents.
00:29 There is a rule, I will tell you what are the rules in this video.
00:32 Hi, this is Bhavna and you are watching Good Returns.
00:35 In the Income Tax Act, there is no rule about the amount of payment while buying gold in cash.
00:42 However, the rules about those who receive the payment while selling gold in cash are very clear.
00:48 No jeweler can accept 2 lakhs or more in a single transaction in cash.
00:55 The section of the Income Tax Act is 269ST. Under this, you cannot make more than 2 lakhs transaction in a day.
01:03 So basically, if you buy gold by giving more than 2 lakhs cash, you are breaking the rules.
01:09 And there is a penalty on it, which is applied to the person who takes the cash.
01:12 That is, the person with whom you will buy gold will be penalized.
01:16 If there is less than 2 lakhs amount to buy gold, then the jeweler can sell you gold.
01:21 For example, the cash buyer bought gold worth 4 lakhs without a PAN card.
01:30 So the jeweler will be penalized for selling gold worth 4 lakhs.
01:37 In this case, if you buy gold worth more than 2 lakhs, then you have to pay it through PAN card, card or cheque.
01:47 Under the Income Tax Act, Section 114(b), this rule was in place in the country.
01:51 Before January 2016, there was a provision to show a PAN on gold purchases worth 5 lakhs.
01:56 But later this rule was changed.
01:59 There is another rule that how much gold can be stored in your house.
02:04 It is different for men and women.
02:07 There are rules like this, let's know that too.
02:09 A married woman can keep up to 500 grams of gold with her.
02:13 A unmarried woman can keep up to 250 grams of gold with her.
02:17 And a man can keep up to 100 grams of gold with him, whether he is married or unmarried.
02:23 If you keep gold with you in the upper limit, then you should have the answer to where you got this gold from.
02:30 So these were some rules about buying and selling gold and how much gold you can store in the house.
02:35 These were the rules that you should definitely know.
02:38 How did you find this much information in the video?
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02:50 [Music]
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