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Valuation of Car for Wealth Tax Purpose

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(Querist)
07 September 2009 Can you please advise how to work out value of cars for Wealth Tax compution?
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
07 September 2009 Method 1 adopt the insurance value.
Method 2 get a valuation certificate from the valuer.
Method 3 Your Book value is the value that can be adopted for wealth tax puprose.
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CA CHINTAN AJMERA

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CA CHINTAN AJMERA (Expert)
07 September 2009 I think method 1 is not right. Just take book value and if u r not provided depreciation then take certificate from valuer.
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