(a) There is no limit on holding of gold jewellery or ornaments by anybody provided it is acquired from explained sources of income including inheritance
(b) Vide circular dated 11.5.1994, instructions have been issued in the matter of search and seizure of gold jewellery.
(c) Jewellery and ornaments to the extent of 500 gms for married lady, 250 gms. for unmarried lady and 100 gm for male member will not be seized, even if prima facie, it does not seem to be matching with the income record of the assesse.
(e) Officer conducting search has discretion not to seize even higher quantity of gold jewellery based on factors including family customs and traditions.