How much contingency should we keep?

About 10%, and more if the wedding is over 9 months away.

Are wedding gifts taxable?

Gifts the couple receives on the occasion of their marriage are tax-free whatever the amount. Keep a record of who gave what.

Accepting ₹2 lakh or more in cash from one person for one occasion is not allowed. Ask for a bank transfer instead.

It is expensive. ₹10 lakh at an assumed 14% for 5 years costs about ₹3.96 lakh in interest. Try the cheaper levers in the planner first.

GST on gold is 3% of the value. Always ask for a GST invoice and check for the HUID hallmark.

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