Neutral impactCommodity
How much gold jewellery can you keep at home? Nagpur ITAT explains the rules on ownership, gifts and taxability
Mint 1 hr ago·31 Aug 2026, 3:00 am
The National Anti-Profiteering Authority (NAA) has ruled that gold jewellery gifted by a spouse is not taxable as the recipient's income. The tribunal clarified that the tax liability depends on the donor's source of funds, not just the transfer of ownership. This decision means that if the gold was purchased from the spouse's own earnings, it remains tax-free for the receiver.
This ruling is significant for investors as it provides clarity on the taxability of assets received as gifts. It sets a precedent that the burden of proof regarding the source of funds lies with the tax authorities. Investors holding such assets should ensure proper documentation exists to substantiate the source of the gold in case of future scrutiny.
Investors should watch for further guidelines from the Central Board of Direct Taxes (CBDT) on how this ruling interacts with existing tax laws. The market may react positively to the increased clarity, reducing uncertainty for investors holding physical gold assets.
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