<p>With silver prices soaring, many people are investing in it. But how much silver can you keep at home? Are there any limits? Let’s find out all the details now.</p><p> </p><img><p>In India, silver is used for jewelry and investments. People often wonder about ownership limits. The Income Tax Department hasn’t set any limit on keeping legally bought or inherited silver.</p><img><p>Though there’s no limit on silver, you must keep the purchase bill. During an income tax inspection, this receipt proves legal ownership. Without it, it’s an undeclared asset, risking taxes or fines.</p><img><p>Selling silver for a profit incurs capital gains tax. If sold within 24 months, it’s taxed as Short-Term Capital Gains (STCG). If sold after 24 months, it’s Long-Term Capital Gains (LTCG).</p><img><p>Silver bought after July 23, 2024, faces a 12.5% LTCG tax with no indexation benefit. Silver bought before that date is taxed at 20% under old rules, including indexation.</p><img><p>Tax rules for Silver ETFs or Mutual Funds are similar to physical silver. Since they’re traded online, records are easy to maintain, simplifying proof for tax filing purposes.</p>
