In India Sleep Not only is a precious metal, but it is also a symbol of tradition, investment and security. It is common to buy gold on marriage, festival or any particular occasion. Many people keep gold in their homes as jewelry, coins or biscuits. But do you know that the government has made many strict rules regarding gold and sales kept at home?
Recently, the government has implemented some new rules regarding the purity of gold and its sales, which can now be difficult to sell the hallmark gold in the market. From January 2025, the government will be monitored further on the gold business. Now the rules have become more strict regarding the purchase-sale, storage and taxation of gold.
If you also keep gold in your house or want to sell in future, then it is important for you to know these new rules. Let us know in detail why there will be no sale in this gold market kept at home and what are the new gold rules of the government.
New gold rules updated
The government has ensured the purity of gold Hallmarking Has made mandatory Now gold without hallmark (BIS Mark) can neither be easily sold nor exchanged while purchasing new jewelery. That is, if you have old -fashioned or without hallmark gold, it is necessary to certify it from the hallmarking center before selling it in the market.
New gold rules
| Terms/condition | Description |
|---|---|
| Hallmarking mandatory | Gold sales or exchange without bis hallmark is not possible |
| Hallmarking applied | 14K, 18k, 22k, 23K, 24K required for all carats (applied from 2022) |
| Certification before sale | Old ornaments have to be certified from the hallmarking center before selling |
| House limit | Married woman: 500 grams, unmarried woman: 250 grams, male: 100 grams |
| Tax rules | Long Term Capital Gain Tax (20%) or Short Term Capital Gain on sale |
| Inheritance/gift gold | Tax free, but evidence of source is necessary |
| Monitoring on imports/exports | Hallmarking compulsory on all gold from January 2025 |
| Government monitoring | The government will have a complete record of buying and selling gold |
Gold Rules 2025: What’s going to change?
- Hallmarking compulsory on all types of gold from January 2025 Will be done. Now not only jewelery, but BIS Hallmark will be necessary on imported gold, bullion and any form purchased in any form.
- It will not be possible to sell or exchange gold in the market without hallmarking. This will prevent the sale of fake or adulterated gold and the customer will get pure gold.
- The government will now get a complete record of gold purchased by every jeweler or businessman, which will also curb tax evasion and smuggling.
Limit and rules of keeping gold at home
- married woman: You can keep gold up to 500 grams.
- Unmarried woman: Can keep 250 grams of gold.
- Male (married/unmarried): It is allowed to keep gold up to 100 grams.
If you have to sleep more than this, then you have to prove its source (how to bought, who gave the gift, inherited etc.). If you are not able to tell the source, then the Income Tax Department can take action.
How will there be a sale of gold without hallmark?
- If you have gold without hallmark, it will not be possible to sell or exchange it directly in the market.
- You first your jewelry Hallmarking center BIS certification will have to be done by taking it into.
- Only after hallmarking, a jeweler or shop can buy it or exchange in new jewelery.
Tax rules for selling gold
- If you keep gold for more than 3 years and then sell it, then on the profit from it Long term capital gains tax (20%) will take.
- If you sell before 3 years, then Short term capital gains Tax will be levied under.
- The gold is not taxed as inherited or a gift, but it is necessary to tell its source.
What will be the effect with new gold rules?
- The sale of fake or adulterated gold will be banned.
- The customer will get a guarantee of purity.
- The government will get a complete record of gold business.
- Trafficking and tax evasion will be controlled.
- Older without hallmark jewelery may have trouble selling, as it will be necessary to do hallmarking first.
Benefits of bis hallmarking
- Guarantee of purity of gold.
- Get the right price in the market.
- Transparency for both customer and jeweler.
- The credibility of Indian gold will increase internationally.
Necessary tips related to keeping and selling gold at home
- Always buy gold with BIS Hallmark.
- Keep the receipt of jewelry and the bill.
- Follow the gold limit kept in the house.
- Do hallmarking before selling old jewelery.
- Keep information about tax rules and consult experts if needed.
Frequently asked questions
Q1. Can you sell jewelry without hallmarks?
No, it is no longer possible to sell or exchange without hallmark jewelery directly in the market. First hallmarking is necessary.
Q2. How much gold can be kept in the house?
Married woman: 500 grams, unmarried woman: 250 grams, male: up to 100 grams.
Q3. Will you be taxed on selling gold?
Yes, if there is a profit then there will be a long term or short term capital gains tax.
Q4. Will the inherited gold be taxed?
No, but it is necessary to tell his source.
Q5. If you want to sleep more than the border?
You have to prove his source (purchase, gift, heritage), otherwise action can be taken.
Q6. Where to get hallmarking done?
You can prove the purity of jewelery by visiting the nearest BIS authorized hallmarking center.
conclusion:
Under the new gold rules of the government, it will no longer be possible to sell or exchange gold without hallmark in the house. Hallmarking will be compulsory to prevent the sale of fake gold and the customer will get pure gold. It is necessary to follow the limit and tax rules of keeping gold at home. Do hallmarking before selling old jewelry, so that there is no problem in future.
Disclaimer: This information is based on new gold rules and media reports released by the government. “There will be no sale in this gold market kept in the house,” does not mean that your gold will become completely useless. You can also sell old or hallmark jewels from the hallmarking center. These rules have been implemented to ensure customers’ safety and gold purity. Avoid rumors and always trust official information.
