Is it necessary every year to obtain a certificate of valuation for determining the value of jewellery for the purpose of wealth tax calculation ?????????
5 Replies
kavitha
(SAO)
(56 Points)
Replied 10 December 2011
if the value exceeds 5 lakh, then the return is to be supported by a report of a registered valuer in Form O-8
and it is necessary every year to attach the report with wealth tax return
CA Chirag Haraniya
(Chartered Accountant)
(902 Points)
Replied 10 December 2011
| Originally posted by : kavitha | ||
 |
if the value exceeds 5 lakh, then the return is to be supported by a report of a registered valuer in Form O-8 and it is necessary every year to attach the report with wealth tax return |
 |
And as per Circular No. 646, it has been decided that report of registered valuer obtained for one assessment year can also be used in subsequent ffour asst. yrs. subject to adjustments (i.e. relating to price relavent to valuation date and adjustment of purchases and sales)
Apeksha
(self employee)
(21 Points)
Replied 15 October 2012
how can a person become a registered valuer for jewellery...what are d qualifications required...
Dhaval Vira
(Trainee)
(54 Points)
Replied 27 November 2012
I thank all of you for your valuable comments....
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