Nation Reporters: Nation Reporters: Gold purchased out of disclosed income exempted from tax: Finance Ministry
News Nation Bureau 02 December 2016, 12:54 PM
Government on Thursday has amended I-T law under which ancestral jewellery and gold that were purchases out of disclosed income are exempted from tax. During search operations, conducted by I-T Department, there would be no seizure of gold jewellery and ornaments that are of 500 grams per married women, 250 gm per unmarried women as also 100 gm per male member of the family,the govt announced on Thursday.
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