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C.R. SHAREDALAL & CO.

Top CA Firm in Ahmedabad

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      • Chandrakant R. Sharedalal
      • J.C. Sharedalal
      • J. K. Patel
      • V. M. Valiya
      • A. J. Sharedalal
      • Utsav Hirani
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Income Tax gold and silver rates

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

  

31-3-2016

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

 

 

31-3-2019

31,640

37,245

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 6.58%

19.91%

  1. 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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info@crsharedalalco.com

+919824055181

702, Parshwanath E-Square,
Corporate Road, Prahladnagar,
Ahmedabad, Gujarat, India, 380015

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