New Delhi, Dec. 26 -- Last date to file a belated or revised income tax return (ITR) for FY24-25 is 31 December 2025. While filing your revised ITR for AW 25-26, one needs to remain cautious while filing the details of one's gold holdings. Amid soaring gold prices, one need not get confused that it's the weight that matters, not the rate. So, skyrocketing gold prices don't play a role, but rather the weight of your preserved gold. Apart from this, one can hold a certain amount of gold without explanation, and a significant portion of the gold can't be seized, even during an income tax raid.

According to the CBDT Instruction No. 1916, dated 11th May 1994, "In the case of a person not assessed to wealth tax, gold jewellery and ornaments to...