Documents needed to sell gold in India

The short checklist

• Photo ID: such as Aadhaar, PAN card, passport, voter ID or driving licence.
• Bank account details: for receiving payment by transfer.
• Your gold, with any bills or hallmark papers you still have.

If your gold is pledged

• The lender's name and branch.
• Your loan account number.
• The pledge receipt or loan agreement.
• If the receipt is lost, tell the buyer. The lender can usually say what it provides instead.

Why a buyer asks for ID

Registered buyers keep a record of who sold what, as part of knowing their customer and protecting both sides. A buyer who does not ask for any ID at all is a warning sign: it may mean the business is not following normal rules.

Bills and hallmarks

A bill or hallmark certificate can speed up a sale because it supports the purity. Without them, a buyer tests the purity in front of you, and the result goes on your slip. Read our hallmark guide to learn what the marks mean.

Payment and cash limits

Indian income-tax rules restrict receiving large amounts in cash. For bigger payments you should expect a bank transfer, and you should keep the record. Rules change, so confirm current limits with a qualified accountant.

Tax on selling gold

Selling gold can have tax consequences depending on how long you held it and how you acquired it. This guide is not tax advice. Speak to a chartered accountant about your situation.