Income Tax gold and silver rates

Gold and silver rates for the current year, last ten assessment years and on April 1, 1981

This table is useful for ascertaining capital gains value as prevailing in past assessment years.

*Assessment year/ valuation date*	*Gold rates¹ (standard 24 carats) (per 10 gms.)*	*Silver rates (9,960 touch) (per 1 kg.)*
	*Rs.*	*Rs.*
*1-4-1981*	1,670	2,715
*ITAY 2009-10*
*31-3-2009*	15,105	22,165
*ITAY 2010-11*
*31-3-2010*	16,320	27,255
*ITAY 2011-12*
*31-3-2011*	20,775	56,900
*ITAY 2012-13*
*31-3-2012*	28,040	56,290
*ITAY 2013-14*
*31-3-2013*	29,610	54,030
*ITAY 2014-15*
*31-3-2014*	28,470	43,070
*ITAY 2015-16*
*31-3-2015*	26,245	37,825
*ITAY 2016-17*
*31-3-201*6	28,340	36,990
*ITAY 2017-18*
*31-3-2017*	28,950	42,000
*ITAY 2018-19*
*31-3-2018*	30,680	38,355
*ITAY 2019-20*
*31-3-201*9	31,640	37,245

Notes :

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 6.58%	19.91%

10 grams	=	0.857 tola	1 tola	=	11.664 grams
1 kilogram	=	85.734 tolas	10 tolas	=	116.638 grams