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Silver prices are sky high at the moment. The question that comes in everyone’s mind is how much silver can we keep at home. If you invest in silver ETFs or mutual funds, the tax rules remain the same. What is the benefit of this? It is easy to track and prove investments as all records are digital.
Do you have silver coins, jewelry or utensils at home? Have you ever wondered how much silver you can hold? Know here what RBI and Income Tax Department have to say.
Unlike gold, there is no limit on how much silver you can keep at home. Under the Income Tax Act, 1961, you can hold any amount of silver – provided it is purchased legally or inherited.
Always keep the receipt or bill of your silver purchase. If you fail to show proof during income tax investigation, it may be considered as undisclosed assets, which may attract penalties and taxes.
If you invest in silver ETFs or mutual funds, the tax rules remain the same. Benefit? It is easy to track and prove investments as all records are digital.
