Inherited / Unaccounted Gold - Pls. Advice

My family has got 1 KG (i.e. 100 Tolas) of gold inherited from my parents & my wife's parents. We want to deposit this idle gold in Income Tax & Wealth Tax Exempted GOLD DEPOSIT scheme for the benefit and welfare of our two minor daughters equally (i.e. 500 grams each).

Being inherited gold we do not have any documents to prove the same, and it is un-accounted. Does we get any problems if we deposit in the IT & Wealth Tax Exempted GOLD Deposit schemes. Kindly advice.

Thanks, Bala