There Is No Limit On Holding Gold

What would be the effect of the government’s recently proposed limits on gold holdings?

First of all there is no limit at all. You can hold any amount of gold. The government has only said that if it finds one tonne of gold with you, it will ask you how you got it. Up to 500 grams you can keep, no questions asked. The balance, say 99500 kilos, if you can prove you got from your father or grandfather, you can hold. This is no different from asking how you got cash of Rs 2.5 lakh. The government is not saying you can’t have cash over Rs 2.5 lakh. It is asking you to simply explain where it is from.

There Is No Limit On Holding Gold