• Jul
  • 23
  • 2014

Year end Rates of Gold & Silver from 1982 to 2014 with valuation rules

Posted In Income Tax | , | 32 Comments » Print Friendly and PDF

Valuation of Jewellery

Jewelry Includes:

1. Ornaments made of gold, silver, platinum or any other precious metal or any alloy containing one or more of such precious metals, whether or not containing any precious or semi-precious stones, and whether or not worked or sewn into any wearing apparel.

2. Precious or semi-precious stones, whether or not set in any furniture, utensils or other article or worked or sewn into any wearing apparel.

In support of the valuation of jewellery, the prescribed form to be attached with the return is:

1. Where the value of the jewellery on the valuation date is upto Rs.5 lakhs, a statement in Form No. 0-8A, a prescribed by rule 13(c), signed by the assessee, or

2. Where the value of the jewellery on the valuation date exceeds Rs.5 lakhs, a report of Registered Valuer in Form No.0-8, as prescribed by rule 8D.

The report can be the basis for arriving at the valuation for 4 subsequent years. All that is needed is to substitute the value of gold, silver or any alloy of the base year with that of the relevant year. Again, adjustment for purchases and sales made during the relevant year will have to be carried out.

Rates of Gold and Silver for Wealth Tax valuation Purpose

In the Chart Given below we have given rates of Gold and Silver for Wealth tax Valuation Purpose from A.Y. 1981-82 to A.Y. 2014-15.

Assessment Year Relevant Valuation Date Std. Gold Rate(24 Carrat for 10 gms i.e. 0.87 tola.) Silver Rate(999 touch for 1 kg.i.e. 85.734 tola)
1981-1982 01/04/1981 1670 2715
1991-1992 31/03/1991 3466 6646
1992.1993 31/03/1992 4334 8040
1993.1994 31/03/1993 4140 5489
1994.1995 31/03/1994 4598 7142
1995.1996 31/03/1995 4680 6335
1996.1997 31/03/1996 5160 7346
1997.1998 31/03/1997 4725 7345
1998.1999 31/03/1998 4045 8560
1999.2000 31/03/1999 4235 7615
2000.2001 31/03/2000 4355 7675
2001.2002 31/03/2001 4250 7200
2002.2003 31/03/2002 5010 7895
2003.2004 31/03/2003 5310 7695
2004.2005 31/03/2004 6081 11600
2005.2006 31/03/2005 6150 10500
2006.2007 31/03/2006 8560 16800
2007.2008 31/03/2007 9510 19500
2008.2009 31/03/2008 12280 23350
2009-2010 31/03/2009 15120 (Mumbai) 22230
2010-2011 31/03/2010 16320 27255
2011-2012 31/03/2011 20775 56900
2012-2013 31/03/2012 28040 56290
2013-2014 31/03/2013 29610 54030
2014-2015 31/03/2014 29300 43400

32 Responses to “Year end Rates of Gold & Silver from 1982 to 2014 with valuation rules”

  1. DR.SATIWAN says:

    IF A PERSON SAVES ONE LAC CASH IN BANK THEN HOW MUCH WEALTH TAX WILL HAVE TO PAY?EITHET ONCE OR REPEATEDLY.

  2. DR.SATIWAN says:

    TAXATION KNOWLEDGE IS ALSO IMPORTANT

  3. Hari says:

    How to calculate Gold rate in per gram basis with these value please help me

  4. p misra says:

    giving information about 24k gold is not correct to calculate value of jwellery …. which is mostly 22k gold. what is needed is 22k gold rates. we can use this (24k) only when we have bought pure gold as investment (during festivals for examples). correct me if i am wrong.

  5. Jayant Lakhkar says:

    Thank you for extensive information on prices of gold and silver from 1981. Another impoartant component of an assessee’s wealth is his residential property additional to the holding allowed as per wealth tax act.

    I am interested in knowing where I can get the 1981 ready reckoner prices (when ready reckoner prices were introduced for the first time) of flats in Mumbai.

    I will be thankful for guidance on where to get the 1981 ready reckoner prices of flats in Mumbai.

  6. Rushabh says:

    Request you to provide source of gold and silver rates as on 31 March 2014 considered in the above table.

  7. DPPoddar says:

    How to fill up details of jewellary in WT return to be filled in E form

  8. pravin says:

    Ornament gold rate (22 carat) is Rs.2822 per gm on 31.3.2014 (Economic Times).

    A correction to be made in the article. From AY 2014-15, Form O-8A or Form O-8 is not required to be attached with Form BB (WT return.

  9. SUMANTA NAG says:

    What is silver rate of 1kg. for a.y.14-15 . This is needed for computation of wealth tax.

  10. U.K.SRIVASTAV says:

    GOLD AND SILVER RATES AS ON 31-03-2014 FOR WEALTH TAX

  11. parveen choudhary says:

    what is gold and sliver rate f.y 2013-2014

  12. Amit says:

    AY 2014-15 Gold rate

  13. Mahesh says:

    Gold / Silver rates for the year ended 31.03.2014
    Gold – 2844 per Grm
    Silver – 42805 per Kg

  14. pawan says:

    Gold Valuation FY 2013-2014 Silver Valuation FY 2013-2014 Diamond Valuation FY 2013-2014 -

  15. s.anil kumar says:

    what is gold & silver rates for the asst.year 2014-15 for wealth tax purposes to file the wealth return

  16. a k agarwal says:

    Sie . What is rates of Gold and Silver for Wealth tax Valuation Purpose for A.Y. 2014-15. ?

  17. kimaya panchal says:

    please its very urgent

  18. kimaya panchal says:

    Gold Valuation FY 2013-2014
    Silver Valuation FY 2013-2014
    Diamond Valuation FY 2013-2014

  19. sabu nair says:

    what is the gold rate in Delhi as on 31.03.2014 for calculation wealth tax

    please it is urgent

  20. Hussain says:

    On date 08/03/2014 today, i m doing calculation of wealth tax for AY 2013-2014. how can arrive the value of silver if i assessee have silver 15kg. show the calculation

  21. BKJ says:

    Thank You

  22. seth says:

    GOLD & SILVER STANDARD RATES as on 31-03-2013

  23. palani says:

    Wealth Tax for Gold Coin Valuation

  24. Rajesh Kumar says:

    An indian women how much gold she keep !

  25. Surya says:

    Iam planning to buy gold, I have following queris about purchaging and maitanining
    1.Suppose if i buy gold at 0.5g for each month and after sometime i wanna exchange that gold to lumsum,what are the rules and regulations for this and what are companies offering it.
    2.Howmuch gold we can wear in dialy life as per GOvt Income tax Rules?
    3.Few jewellers are giving on EMI basis ,can we take or not to take ?

  26. PRIYADARSHI PRAJAPAT says:

    ths info. very helpfull
    thx dear

  27. amit mishra says:

    sir, plz confirm a 22 carrot gold rates.

  28. riya says:

    today 2-sep-2011 gold is 26815/- i want to know the rate will increase in next month or decrease

  29. pravin says:

    i think rates for 2009-10 is wrong as per tax publishers gold rate 15,260 & silver 27665 i wnated to know what is the gold & silver rate as on 31.03.2011

  30. Santosh says:

    Std. Gold Rate 24 Carat for 10 gms on 31-3-2011 in Mumbai is required.

  31. MAHESH HEDA says:

    GOLD RATE FOR 31ST MARCH 2010 IS 16320/- PER 10 GRAM AND SILVER RATE IS 27255/- PER KG

  32. Sunny says:

    I think rates are incorrect…plz verify 2008-09 & 2009-2010 rates..

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