LatestAccounting And Audit 19 September 2026
2026 Gold Ornament Tax Rules: What Buyers and Sellers Must Know
India imposes no legal cap on the amount of gold individuals can own or keep at home, but recent tax regulations introduce stricter audit thresholds. Under Section 44AB, transactions exceeding specified limits trigger a mandatory tax audit, affecting both buyers and sellers of gold ornaments.
India still has no statutory limit on how much gold a person can hold at home, but the 2026 tax regime tightens compliance. Under Section 44AB, any gold ornament transaction that crosses the audit threshold now requires a tax audit.
- No legal ownership ceiling for gold.
- Audit limit set by the government applies to high‑value sales.
- Non‑compliance may lead to penalties.
For full details, see the official guide.
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