July 8, 2013
MUMBAI: After angadias emerged from anonymity following a recent raid on trucks filled with cash, gold and diamonds, people have been asking if a person carrying a lot of money and valuables can be pulled up for doing so, especially if one is flying. Can a flyer be refused security clearance for carrying cash and valuables above a limit? The rules are different for international and domestic travel.
July 8, 2013
MUMBAI: After angadias emerged from anonymity following a recent raid on trucks filled with cash, gold and diamonds, people have been asking if a person carrying a lot of money and valuables can be pulled up for doing so, especially if one is flying. Can a flyer be refused security clearance for carrying cash and valuables above a limit? The rules are different for international and domestic travel.
For travelling abroad, one needs to be careful about one's baggage. It is usual for one to carry jewellery, cash and expensive gadgets, but unless one declares the goods and their value before leaving, one can fall into customs' net upon return. As per customs rules, for carrying gold and expensive items from India to other countries, one needs to procure a certificate from the precious cargo complex a day in advance. Upon return, the certificate can be shown to customs to claim duty exemption. "The traveler can thus leave the airport without any hassle," said an officer from the Air Intelligence Unit.
What about bringing home goods bought abroad? "One needs to pay duty if one brings into the country things that cost more than a certain limit," said a customs official. The duty is 36% for goods worth more than Rs35,000. For gold, the duty regime is more liberal for women, the allowance being amounts costing up to Rs 20,000. For men, the limit is Rs 10,000. Amounts of gold above these limits attract a duty of 36%. As for cash, one is allowed to bring into the country $5 000 and an equal amount in traveler’s cheques (above what one declared at the time of leaving India).
Customs officials say travelers should never knowingly hide valuables to escape duty. "If discovered, they need to pay a fine apart from duty. It could also lead to an arrest and a court case," said an official. "In 20-30% of the cases, the intention is not smuggling, but the cases are classified as such."
What about domestic travel? Well, there is no rule on carrying cash, gold, jewels or gadgets, which means one can carry whatever one feels like and in any quantity. "We do not set limits on such items as they do not pose a hazard to aircraft security," said an official of the Bureau of Civil Aviation Security.
But then the income tax department comes into the picture. "If the department receives a tipoff that someone is carrying a huge quantity of cash, its officials can stop and interrogate the flyer," said an officer. "If one can produce a receipt or otherwise show the origin of the cash, there is no problem."
Courtesy: TOI
