Sat, Jan 31, 2026 | 12:10 PM IST
Experts are urging the government to raise the spending limit for gold purchases requiring PAN or Aadhaar. The current Rs 2 lakh threshold, set in 2016, is now easily crossed due to rising gold prices. This impacts ordinary buyers and small jewellers. An increased limit would ease compliance for genuine customers while maintaining transparency for high-value transactions.
India's tax collection saw a major boost through data-driven nudges. The NUDGE initiative guided taxpayers to correct claims, leading to over Rs 119 crore additional tax from HRA. Foreign asset declarations and 80GGC donations also increased significantly. This approach promotes voluntary compliance, reducing friction and litigation for a more efficient tax system.
A Delhi family has successfully reclaimed 6.8 kg of gold and Rs 40 lakh cash. The Delhi High Court permitted the release after the family paid Rs 2.5 crore as advance tax. The seized items were taken during an income tax search. The family cited an upcoming wedding as the reason for needing the gold.
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