A ‘golden’ move to curb corruption?

National News

After demonetizing 500 and 1000 rupee notes,the centre has decided to implement another idea.

  • Now married women can possess 500 grams of Gold, 250gm per unmarried women as also 100gm per male member of the family.
  • Section 115BBE of the Income Tax Act provides for a steep 60 per cent tax and a 25 per cent surcharge on gold holders.
  • Additional 10 per cent penalty on being established that the wealth is unaccounted or black money.
  • Not applicable on ancestral jewels

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