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)
1981-198201/04/198116702715
1991-199231/03/199134666646
1992.199331/03/199243348040
1993.199431/03/199341405489
1994.199531/03/199445987142
1995.199631/03/199546806335
1996.199731/03/199651607346
1997.199831/03/199747257345
1998.199931/03/199840458560
1999.200031/03/199942357615
2000.200131/03/200043557675
2001.200231/03/200142507200
2002.200331/03/200250107895
2003.200431/03/200353107695
2004.200531/03/2004608111600
2005.200631/03/2005615010500
2006.200731/03/2006856016800
2007.200831/03/2007951019500
2008.200931/03/20081228023350
2009-201031/03/200915120 (Mumbai)22230
2010-201131/03/20101632027255
2011-201231/03/20112077556900
2012-201331/03/20122804056290
2013-201431/03/20132961054030
2014-201531/03/20142930043400

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

  1. Bharat K Shah says:

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

    Gold Valuation FY 2014-2015
    Silver Valuation FY 2014-2015
    Diamond Valuation FY 2014-2015

    Plz Send Rate For Wealth Tax purpose

  2. JITU says:

    Hi..

    Can tell me somebody,what is the tax is applicable for gold in Andaman ?

    please tell me exact tax amount for one gram ?

  3. Sheetal says:

    I am planning to buy gold, I have following quires about purchasing may I purchase 20 grms in Jan 2015

  4. Shivshankar Randale says:

    What are the provisions when urbun land 1800 sq feet sale on 31st march.

  5. 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.

  6. DR.SATIWAN says:

    TAXATION KNOWLEDGE IS ALSO IMPORTANT

  7. Hari says:

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

  8. 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.

  9. 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.

  10. Rushabh says:

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

  11. DPPoddar says:

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

  12. 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.

  13. SUMANTA NAG says:

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

  14. U.K.SRIVASTAV says:

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

  15. parveen choudhary says:

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

  16. Amit says:

    AY 2014-15 Gold rate

  17. Mahesh says:

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

  18. pawan says:

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

  19. s.anil kumar says:

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

  20. a k agarwal says:

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

  21. kimaya panchal says:

    please its very urgent

  22. kimaya panchal says:

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

  23. sabu nair says:

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

    please it is urgent

  24. 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

  25. seth says:

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

  26. palani says:

    Wealth Tax for Gold Coin Valuation

  27. Rajesh Kumar says:

    An indian women how much gold she keep !

  28. 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 ?

  29. PRIYADARSHI PRAJAPAT says:

    ths info. very helpfull
    thx dear

  30. amit mishra says:

    sir, plz confirm a 22 carrot gold rates.

  31. riya says:

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

  32. 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

  33. Santosh says:

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

  34. MAHESH HEDA says:

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

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