Tax Calculator
Gold Gift Tax Calculator
Find out if your gold gift is taxable. India taxes gold gifts above ₹50,000 as income; the US has annual gift exclusion rules. Not tax advice.
—
- Gold Market Value
- —
- Threshold
- —
- Taxable Amount
- —
- Estimated Tax
- —
India: gold gifts from non-relatives above ₹50,000 are added to income. Gifts from relatives are fully exempt. US: giver may owe gift tax above annual exclusion. Not tax advice.
Frequently Asked Questions
Is gold received as a gift taxable in India?+
Gold gifts above ₹50,000 in a financial year (from non-relatives) are taxable as income under "income from other sources." Gifts from relatives (defined list under Income Tax Act) are fully exempt.
Who counts as a relative for gold gift exemption in India?+
Spouse, siblings (and their spouses), parents (and siblings of parents), children (and spouses), grandparents. Gifts from this defined list of relatives are exempt regardless of value.
Is there gift tax in the US on gold?+
The giver (not the recipient) may owe US gift tax on amounts above the annual exclusion ($18,000 per recipient in 2024). Below this, no reporting required. Lifetime gift tax exemption is ~$13.6M (2024).
Can I gift gold jewelry to my children in India?+
Yes, tax-free at any amount — children are "relatives" under the Income Tax Act. The cost basis for the child's future CGT calculation is the gift's fair market value on the date of gift.
Do I need to declare a gold gift to Indian customs?+
If bringing gold from abroad as a gift, Indian customs rules apply: male passengers can bring up to 50g duty-free; female passengers 100g. Above that, 15% duty is levied.