Help centre
Selling gold in Mumbai — every question answered
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FAQ
Selling your gold
What kind of gold can I sell?
Gold jewellery (necklaces, chains, bangles, rings, earrings, mangalsutra), gold coins and bars, broken or damaged pieces, and inherited or very old jewellery. We do not buy gold-plated or imitation items.
Is there a minimum quantity?
No fixed minimum. For very small quantities, such as a single nose pin, we may suggest combining items so the visit is worthwhile for you.
Can I sell only part of my jewellery?
Yes. Test everything, then decide item by item. There is no pressure to sell all of it.
Do you also release pledged gold?
Yes. If your gold is pledged with a bank or NBFC, we can pay off the loan on your behalf, collect the gold with you and pay you the balance after deducting the loan amount.
Can someone else sell on my behalf?
The owner should be present with ID. For inherited gold, the legal heir can sell with their own ID and a self-declaration.
FAQ
Testing & weighing
Will testing damage my jewellery?
No. We never cut or melt your jewellery, and any scratch or acid test is done only with your permission.
How is weight measured?
On a calibrated digital scale accurate to 0.01 g, in front of you. You can note the weight shown before anything is calculated.
FAQ
Payment
How do you pay?
By instant bank transfer (IMPS, NEFT or RTGS) to an account in the seller's name, or UPI for smaller amounts. You get a purchase invoice showing weight, purity, rate and amount.
Do you pay in cash?
Indian income-tax law does not allow anyone to receive ₹2 lakh or more in cash in a single transaction. Bank transfer is safer, faster and gives you a record, so we pay digitally.
Is there any hidden deduction?
No. The only deductions are the weight of non-gold parts (stones, lac, wax) and our service margin, both shown before you accept.
FAQ
Documents & KYC
Is PAN card compulsory to sell gold?
PAN is mandatory when the value of a single sale is more than ₹2 lakh. For smaller sales any government photo ID with address works, though we recommend keeping PAN handy.
Do I need the original bill?
No, the bill is not compulsory. Most family gold has no bill. You sign a simple self-declaration that the gold belongs to you or your family.
Why do you need KYC?
KYC protects you and us: it confirms the seller is the rightful owner and that payment goes to the right person, as required for precious-metal transactions in India.
FAQ
Tax on selling gold
Do I have to pay tax when I sell old gold?
Profit on selling gold is taxed as capital gains. If you held it more than 24 months, the gain is long-term and taxed at 12.5% without indexation. If held for 24 months or less, the gain is added to your income and taxed at your slab rate.
How is tax calculated on inherited gold?
For inherited gold, the holding period and purchase cost of the previous owner are counted. For gold acquired before 1 April 2001, the fair market value on that date can be used as the cost. Please confirm your case with a chartered accountant.
Will I get a document for my tax records?
Yes. You receive a purchase invoice with the date, weight, purity, rate and amount paid. Keep it with your purchase bill (if any) to calculate and report capital gains in your income-tax return.