On Taxing Jewellery Or Gold, Finance Ministry Offers A Clarification
On Taxing Jewellery Or Gold, Finance Ministry Offers A ClarificationIndian shoppers look for gold jewellery and ornaments. Photo credit: NARINDER NANU/AFP/Getty Images

The Finance Ministry has called “baseless” the idea that jewellery bought out of disclosed or exempted income or reasonable household savings is taxable.

It offers a clarification.

Also not taxable is the jewellery or gold inherited legally and acquired out of explained sources.

On the seizure of gold jewellery, Finance Ministry says:

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