Gold and silver rates for the last ten assessment years

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Gold and silver rates for the last ten assessment years

 

Gold and silver rates for the  last ten assessment years 

Assessment year/ valuation date Gold rates1 (standard 24 carats) (per 10 gms.) Silver rates (9,960 touch) (per 1 kg.) Assessment year/ valuation date Gold rates1 (standard 24 carats) (per 10 gms.) Silver rates (9,960 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. 2005-06 Asst. Yr. 2012-13
31-3-2005 6,180 10,675 31-3-2012 28,040 56,290
Asst. Yr. 2006-07 Asst. Yr. 2013-14
31-3-2006 8,490 17,405 31-3-2013 29,610 54,030
Asst. Yr. 2007-08 Asst. Yr. 2014-15
31-3-2007 9,395 19,520 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

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

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