How much gold can I buy in cash and do I need to submit my ID proof for the same?
No restrictions on cash amount to buy gold, but jewellers cannot accept more than ₹2 lakh in cash per transaction. PAN or Aadhaar is required for purchase over ₹2 lakh
I want to buy gold and keep it for my children's wedding. I want to use cash to buy gold. So, how much gold can I buy in cash without and with PAN, or Aadhaar proof? What are the income tax implications?