The Central government may soon come up with a special plan for gold. This will greatly benefit you as it will allow you to legalize your illegal gold and avoid punishment. The government is considering an amnesty program. With the help of this scheme, the government wants to reduce tax evasion and gold imports. Under the proposal given to Prime Minister Narendra Modi, the government plans to ask people holding illegal gold to report it to the tax authority. Then pay the penalty and legalize them.
Under this plan you will be able to legalize your illegal gold by paying a penalty. According to a Bloomberg report, the proposal submitted to Prime Minister Narendra Modi says that people who have illegal gold should be asked to report it to the tax authority. Then pay the penalty and legalize them.