Rates of Gold & Silver up to 31.03.2014 required for valuation of Jewellary for filing wealth tax return

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)
1981-1982	01/04/1981	1670	2715
1991-1992	31/03/1991	3466	6646
1992.1993	31/03/1992	4334	8040
1993.1994	31/03/1993	4140	5489
1994.1995	31/03/1994	4598	7142
1995.1996	31/03/1995	4680	6335
1996.1997	31/03/1996	5160	7346
1997.1998	31/03/1997	4725	7345
1998.1999	31/03/1998	4045	8560
1999.2000	31/03/1999	4235	7615
2000.2001	31/03/2000	4355	7675
2001.2002	31/03/2001	4250	7200
2002.2003	31/03/2002	5010	7895
2003.2004	31/03/2003	5310	7695
2004.2005	31/03/2004	6081	11600
2005.2006	31/03/2005	6150	10500
2006.2007	31/03/2006	8560	16800
2007.2008	31/03/2007	9510	19500
2008.2009	31/03/2008	12280	23350
2009-2010	31/03/2009	15120 (Mumbai)	22230
2010-2011	31/03/2010	16320	27255
2011-2012	31/03/2011	20775	56900
2012-2013	31/03/2012	28040	56290
2013-2014	31/03/2013	29610	54030
2014-2015	31/03/2014	29300	43400

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