INDIAN MARKET RATES FOR GOLD & SILVER- III
Given below are the gold & silver rates of 10 years from 1974-83required for valuation purposes and calculating tax.
|
valuation date |
standard GOLD 24 carats |
SILVER 9960 touch |
||
|
|
Rate |
Per |
Rate |
Per |
|
|
|
|
|
|
|
13.11.74 |
530.00 |
10 Grams |
1220.00 |
1 Kg |
|
31.12.74 |
526.00 |
“ |
1115.00 |
“ |
|
31.03.75 |
540.00 |
“ |
1025.00 |
“ |
|
03.11.75 |
547.00 |
“ |
1155.00 |
“ |
|
31.12.75 |
531.00 |
“ |
1156.00 |
“ |
|
31.03.76 |
532.00 |
“ |
1127.00 |
“ |
|
23.10.76 |
560.00 |
“ |
1175.00 |
“ |
|
31.12.76 |
561.00 |
“ |
1215.00 |
“ |
|
31.03.77 |
573.00 |
“ |
1310.00 |
“ |
|
11.11.77 |
658.00 |
“ |
1325.00 |
“ |
|
31.12.77 |
681.00 |
“ |
1238.00 |
“ |
|
31.03.78 |
665.00 |
“ |
1382.00 |
“ |
|
31.10.78 |
870.00 |
“ |
1546.00 |
“ |
|
31.12.78 |
850.00 |
“ |
1541.00 |
“ |
|
31.03.79 |
937.00 |
“ |
1688.00 |
“ |
|
20.10.79 |
1220.00 |
“ |
2283.00 |
“ |
|
31.12.79 |
1308.00 |
“ |
3442.00 |
“ |
|
31.03.80 |
1330.00 |
“ |
2655.00 |
“ |
|
07.11.80 |
1600.00 |
“ |
2727.00 |
“ |
|
31.12.80 |
1690.00 |
“ |
2825.00 |
“ |
|
31.03.81 |
1700.00 |
“ |
2720.00 |
“ |
|
27.10.81 |
1785.00 |
“ |
2635.00 |
“ |
|
31.12.81 |
1720.00 |
“ |
2550.00 |
“ |
|
31.03.82 |
1645.00 |
“ |
2680.00 |
“ |
|
15.11.82 |
1775.00 |
“ |
2715.00 |
“ |
|
31.12.82 |
1750.00 |
“ |
2915.00 |
“ |
|
31.03.83 |
1800.00 |
“ |
3105.00 |
“ |
1 Tola = 11.6639 Grams 10Grams = 0.8573 Tola
INDIAN MARKET RATES FOR GOLD & SILVER- II
Given below are the gold & silver rates of 10 years from 1965-1974 required for valuation purposes and calculating tax.
|
Valuation Date |
Standard GOLD 24 carats |
SILVER 9960 touch |
||
|
|
Rate |
Per |
Rate |
Per |
|
|
|
|
|
|
|
24.10.65 |
134.57 |
10 Grams |
303.00 |
1 Kg |
|
31.12.65 |
135.86 |
“ |
321.00 |
“ |
|
31.03.66 |
143.57 |
“ |
366.00 |
“ |
|
12.11.66 |
142.29 |
“ |
355.00 |
“ |
|
31.12.66 |
N.A. |
“ |
360.00 |
“ |
|
31.03.67 |
N.A. |
“ |
358.00 |
“ |
|
02.11.67 |
158.00 |
“ |
418.00 |
“ |
|
31.12.67 |
155.50 |
“ |
508.00 |
“ |
|
31.03.68 |
162.00 |
“ |
535.00 |
“ |
|
21.10.68 |
153.00 |
“ |
573.00 |
“ |
|
31.12.68 |
160.00 |
“ |
561.00 |
“ |
|
31.03.69 |
176.00 |
“ |
511.00 |
“ |
|
09.11.69 |
181.00 |
“ |
489.50 |
“ |
|
31.12.69 |
177.00 |
“ |
475.00 |
“ |
|
31.03.70 |
184.50 |
“ |
521.00 |
“ |
|
30.10.70 |
181.25 |
“ |
535.00 |
“ |
|
31.12.70 |
183.75 |
“ |
562.25 |
“ |
|
31.03.71 |
193.00 |
“ |
585.00 |
“ |
|
19.10.71 |
200.00 |
“ |
551.75 |
“ |
|
31.12.71 |
204.00 |
“ |
541.00 |
“ |
|
31.03.72 |
202.75 |
“ |
534.50 |
“ |
|
05.11.72 |
242.25 |
“ |
530.00 |
“ |
|
31.12.72 |
243.50 |
“ |
581.50 |
“ |
|
31.03.73 |
278.50 |
“ |
619.00 |
“ |
|
26.10.73 |
356.00 |
“ |
771.00 |
“ |
|
31.12.73 |
368.00 |
“ |
834.00 |
“ |
|
31.03.74 |
506.00 |
“ |
1260.00 |
“ |
1 Tola = 11.6639 Grams 10Grams = 0.8573 Tola
INDIAN MARKET RATES FOR GOLD & SILVER- I
Given below are the gold & silver rates of 10 years from 1956- 1965 required for valuation purposes and calculating tax. This is contributed by CA Final Student Arti Patrikar.
|
Valuation Date |
standard GOLD 24 carats |
SILVER 9960 touch |
||
|
|
Rate |
Per |
Rate |
Per |
|
|
|
|
|
|
|
02.11.56 |
106.13 |
Tola |
173.88 |
100 Tolas |
|
31.12.56 |
104.44 |
“ |
173.69 |
“ |
|
31.03.57 |
105.69 |
“ |
179.88 |
“ |
|
23.10.57 |
107.59 |
“ |
181.75 |
“ |
|
31.12.57 |
107.56 |
“ |
186.38 |
“ |
|
31.03.58 |
111.13 |
“ |
195.75 |
“ |
|
12.11.58 |
111.56 |
“ |
187.00 |
“ |
|
31.12.58 |
114.53 |
“ |
192.56 |
“ |
|
31.03.59 |
119.53 |
“ |
199.94 |
“ |
|
31.10.59 |
124.00 |
“ |
209.75 |
“ |
|
31.12.59 |
125.44 |
“ |
210.25 |
“ |
|
31.03.60 |
130.34 |
“ |
216.56 |
“ |
|
20.10.60 |
113.65 |
10 Grams |
193.10 |
1 Kg |
|
31.12.60 |
114.05 |
“ |
194.90 |
“ |
|
31.03.61 |
119.35 |
“ |
202.10 |
“ |
|
08.11.61 |
124.25 |
“ |
207.15 |
“ |
|
31.12.61 |
119.50 |
“ |
211.70 |
“ |
|
31.03.62 |
119.75 |
“ |
219.55 |
“ |
|
28.10.62 |
117.10 |
“ |
223.20 |
“ |
|
31.12.62 |
104.75 |
“ |
209.30 |
“ |
|
31.03.63 |
166.29 |
“ |
238.00 |
“ |
|
17.10.63 |
102.85 |
“ |
238.00 |
“ |
|
31.12.63 |
102.85 |
“ |
250.50 |
“ |
|
31.03.64 |
108.43 |
“ |
260.00 |
“ |
|
04.11.64 |
114.86 |
“ |
259.50 |
“ |
|
31.12.64 |
119.57 |
“ |
267.50 |
“ |
|
31.03.65 |
123.00 |
“ |
280.50 |
“ |
GULF COUNTRIES TO LEVY INCOME TAX & VAT
Gulf countries are one of the largest attractions for foreign investors and expatriate workers due to absence of Income Tax and many other tax reliefs. But this scenario would not last too long.
The six Gulf countries are trying hard to meet the deadline for the implementation of corporate and individual income tax by 2012. According to experts, ‘the prospect of drastic reductions in oil revenues and the resultant fiscal deficit has forced the six countries to examine whether implementation can be done earlier than 2012.
The Gulf Co-operation Council’s monetary and tax system is traditional. Levying of income tax & VAT is a first step towards monetary globalization.
Foreign banks are taxed at a rate of 20% on their taxable income in Abu Dhabi, Dubai, & Sharjah. Oil companies pay at a flat rate of 55% on their taxable income in Dubai & 50% in other emirates.