The published table provides the closing rates of gold and silver that are relevant for reinstating investments in financial statements, covering the current year, the last ten assessment years, and the benchmark valuation dates of 1 April 1981 and 31 March 2001 onwards. For Assessment Year 2026-27 (valuation date 31 March 2026), the closing rate of 24-carat (995 standard) gold is Rs. 1,46,145 per 10 grams, while silver (999.60 touch) is Rs. 2,30,135 per kilogram. The table also records historical year-end rates from Assessment Years 2008-09 to 2025-26, enabling comparison across valuation years. Notes accompanying the table prescribe reductions of approximately 14.08% to 16.58% for plain gold ornaments and 19.91% for other gold ornaments to account for purity differences, soldering, melting loss, mint charges, freight, insurance and dealer margin. It also states that silverware and utensils are liable for wealth tax and provides conversion tables for grams, kilograms and tolas. A disclaimer clarifies that the document is intended only for informational purposes, should be verified with Government Acts, Rules and Notifications, and reflects the Income-tax Act, 1961, as amended by the Finance Act, 2026.
Gold and Silver rates
Closing rates of Gold and Silver are relevant to reinstate the Investment in financial statements. In this write up, a list of Gold and Silver rates as prevailed on the last day of last 10 yea
Gold and silver rates for the current year, last ten assessment years and on April 1, 1981/2001
| Assessment year/ valuation date | Gold rates1 (995 standard 24 carats) (per 10 gms.) | Silver rates (9,9960 touch) (per 1 kg.) | Assessment year/ valuation date | Gold rates1 (995 standard 24 carats) (per 10 gms.) | Silver rates (9,9960 touch) (per 1kg.) |
| Rs. | Rs. | Rs. | Rs. | ||
| 1-4-1981 | 1,670 | 2,715 | Asst. Yr. 2011-12 | ||
| 31-3-2011 | 20,775 | 56,900 | |||
| Asst. Yr. 2012-13 | |||||
| 31-3-2012 | 28,040 | 56,290 | |||
| Asst. Yr. 2013-14 | |||||
| 31-3-2013 | 29,610 | 54,030 | |||
| Asst. Yr. 2014-15 | |||||
| 31-3-2014 | 28,470 | 43,070 | |||
| Asst. Yr. 2008-09 | Asst. Yr. 2015-16 | ||||
| 31-3-2008 | 12,125 | 23,625 | 31-3-2015 | 26,245 | 37,825 |
| Asst. Yr. 2009-10 | Asst. Yr. 2016-17 | ||||
| 31-3-2009 | 15,105 | 22,165 | 31-3-2016 | 28,340 | 36,990 |
| Asst. Yr. 2010-11 | Asst. Yr. 2017-18 | ||||
| 31-3-2010 | 16,320 | 27,255 | 31-3-2017 | 28,950 | 42,000 |
| Asst. Yr. 2018-19 | |||||
| 31-3-2018 | 30,680 | 38,355 | |||
| Asst. Yr. 2019-20 | |||||
| 31-3-2019 | 31,640 | 37,245 | |||
| Asst. Yr. 2020-21 | |||||
| 31-3-2020 | 43,000 | 39,200 | |||
| Asst. Yr. 2021-22 | |||||
| 31-3-2021 | 44,013 | 62,862 | |||
| Asst. Yr. 2022-23 | |||||
| 31-3-2022 | 51,278 | 66,990 | |||
| Asst. Yr. 2023-24 | |||||
| 31-03-2023 | 59,512 | 71,582 | |||
| Asst. Yr. 2024-25 | |||||
| 31-03-2024 | 66,983
|
74,127
|
|||
| Asst. Yr. 2025-26 | |||||
| 31-03-2025 | 88,807 | 1,00,892 | |||
| Asst. Yr. 2026-27 | |||||
| 31-03-2026 | 1,46,145 | 2,30,135 |
Notes :
1. Value of gold contained in gold ornaments should be reduced by 14 to 20 per cent of ruling rates of standard gold, as per the practice prevalent in the bullion market and the amount of reduction has to be worked out in the following manner :
| Plain gold bangles and ornaments made of solid gold | Other gold ornaments | |
| Difference in value between 24 carats of standard gold and 22 carats of gold ornaments (gold ornaments are generally made of 22 carats of gold) | 8.33% | 8.33% |
| Soldering made of copper, silver, etc., used in making ornaments | 2.5% to 5% | 8.33% |
| Shortage of gold in melting, mint charges payable to Government, expenditure on freight, insurance, etc., of sending gold ornaments to approved mint for conversion into standard gold bars | 1.25% | 1.25% |
| Margin of profit of the dealer when ornaments are sold in market | 2% | 2% |
| Total reduction | 14.08% to 16.58% | 19.91% |
2. Silverwares, utensils, etc., is liable for wealth-tax.
3. Conversion table:
| 10 grams | = | 0.857 tola | 1 tola | = | 11.664 grams |
| 1 kilogram | = | 85.734 tolas | 10 tolas | = | 116.638 grams |
Disclaimer: The contents of this document are for information purposes only. This aims to enable public to have a quick and an easy access to information and do not purport to be legal documents. Viewers are advised to verify the content from Government Acts/Rules/Notifications etc.
“This document contains the provisions of the Income-tax Act, 1961, as amended by the Finance Act, 2026.”
[As amended by Finance Act, 2026]
(Republished with amendments)
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Dear Team TaxGuru,
Greetings from Women’s Synergy! This is in appreciation of your articles and posts from time to time which we found very useful, informative and educative as well. We would like to know if you could be one of our knowledge resource partners along Financial Literacy and related fields for lay women registered in our platforms and consider conducting some workshops for our women or build up training modules for dissemination among prospective women or Train-the-Trainer programs etc. for such women registered with us, so that this also becomes an excellent pretext for synergy creation for development among women along other fronts as well? If inclined to this proposition of ours, could you please connect with us @ womensynergy@gmail.com or 9711073161 where some deeper thoughts could be taken forward towards such a prospect for our women’s groups.
Thanks, looking forward to Synergies! Best! Vaidehi Krishnan, Founder, Women’s Synergy, Delhi-NCR-Bengaluru (A registered non-profit Trust for empowering women from an eclectic mix of backgrounds through ‘Synergies & Symbiotic Relationships’ Mob: 9711073161; http://www.facebook.com/womensynergy
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The table stops with 31.03.2008, whereas it will more useful if the rates till 31.03.2014 are given
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