Finance, Forex and Investments

how much sovereigns of gold & cash can an individual have in his house.i heard that there is a certain limit?

how much sovereigns of gold & cash can an individual have in his house.i heard that there is a certain limit declared by income tax department of indian government. 2)another doubt is that if i own a company & being a business man i earn 20 crores profit & if i give salary to the workers which comes around some 15 crores from that 20 crores,should i pay tax for all the 20 crores i earned or only to the remaining 5 crores. 3)if i'm getting some 1/2 kg of diamonds or a bag full of amount say rs 20 crores & if i start a business with that & later if income tax dept comes for ride & asks for way of source amount invested should i say that i got it by luck,will they leave me.seriously few days before i read in newspaper that there was a anonymous bag lying in a railway station containing 10 crores of money. 4)does government has any rights to come & snatch that money which i got by luck

Public Comments

1. NO LIMETS BUT IF IT WILL BE RAID THAN ALL AMOUNT WILL BE OF THE GOVERNMENT ...A ONE SHOULD KEEP IN ONE'S HOUSE NOT MORE THAN 500,000.
2. You can keep any amount of gold, diamond or money in your house. But you have to pay the tax for it also it should be earned in right way.