In another shock, the government has introduced another guideline for  undeclared wealth. The government announced the 26-year-old rule which says that only married women can store more gold.

"Jewelry that is inherited or that bought with declared wealth will not be taxed", the Finance Ministry said in a statement. "Legitimate holding of jewelry up to any extent is fully protected," it clarified.

"There is no limit on holding of gold jewelry or ornaments by anybody provided it is acquired from explained sources of income, including inheritance."

"Even if the gold does not match one's known income, jewelry and ornaments to the extent of 500 gm for the married lady, 250 gm for an unmarried lady and 100 gm for the male member will not be seized," the government said, producing portions of the 1995 law.

"The apprehension... that the jewelry which is acquired out of disclosed sources or exempted income shall become taxable under the proposed amendment is totally unfounded and baseless," the government's statement said.

Officers can excuse those who have  larger quantities of gold if it is a  family tradition.

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BY M. DIVYA SRI