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India's income tax men may come calling on gold buyers

IMG Auteur
Chris Powell
GATA
Published : November 19th, 2016
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Category : GoldWire

MUMBAI -- The taxman may knock on your door if you bought gold immediately before or after high denomination currency notes were withdrawn -- even if you paid for the precious metal by cheque or credit card.

Excise authorities have issued notices to 600 jewellers to give details of stocks and sales for each day from Nov 7, a day before the announcement, to Nov 10, the India Bullion & Jewellers Association told The Times. This might be one of the reasons to have caused jewellery and bullion demand to fall sharply in the days after the notices were issued last Friday.

... For the remainder of the report:

http://economictimes.indiatimes.com/markets/s...ome-tax-men-...
Data and Statistics for these countries : Georgia | India | All
Gold and Silver Prices for these countries : Georgia | India | All
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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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