Hyderabad: Rumours that all gold articles for which owners did not have a bill would attract a fine, created panic and confusion on Thursday.
Under the new gold amnesty scheme, people who are hoarding gold will be given a chance to declare it and pay tax on it.
This has perplexed many people, particularly women, who have been gifted gold jewellery when they married or on other occasions.
“I was given gold by my family members, and they did not give it to me with the bill attached. How will I prove to the government officers that I am the legal owner of the heirloom?” asks Hema Latha. To clarify matters, the Finance Ministry late on Thursday evening said that there was no limit on holding gold jewellery, provided it is purchased from known sources of income.
