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Home  ❯  Tax  ❯  Gold | Silver Assets Valuation Clculator

Calculate Value of Gold and Silver Assets

About this Calculator

This Gold | Silver Assets Valuation Calculator is for calculation of value of Gold and Silver assets based on rates notified by Income Tax department. The calculator may be used to Assess wealth in Gold and Silver assets, including Gold ornaments, for past 15 Assessment years and as on 1st April 1981.

A. Valuation of Gold (standard 24 carats)
2Value per 10 gms
3Select to enter weight in Tolas or Grams
4Enter Weight in Tolas
4Enter Weight in Grams
5Valuation of 24 Carat Gold Assets
B. Valuation of Gold Ornaments (standard 22 carats)
1Reduction in value from 24 carats to 22 carats (14% to 20%)
Please see Notes below for more information.
2Select Assessment Year / Valuation Date
3Value per 10 gms
4Select to enter weight in Tolas or Grams
5Enter Weight in Tolas
5Enter Weight in Grams
6Valuation of 22 Carat Gold Assets
C. Valuation of Silver
1Select Assessment Year / Valuation Date
2Value per Kilogram
3Select to enter weight in Tolas or Grams
4Enter Weight in Tolas
4Enter Weight in Grams
5Valuation of Silver Assets

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 goldOther 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 ornaments2.5% 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 bars1.25%1.25%
Margin of profit of the dealer when ornaments are sold in market2%2%
Total reduction14.08% to 16.58%19.91%

2. Silverwares, utensils, etc., is liable for wealth-tax.

3. Conversion table:

10 grams = 0.857 tola1 tola = 11.664 grams
1 kilogram = 85.734 tolas10 tolas = 116.638 grams
Updated : Jan 06, 2021