Diamond rates

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 April 2010 Can any body provide me rates of diamonds from 1-4-1981 to 31.3.2010 for valuation purpose under Wealth tax provision.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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30 April 2010 you could check the ready recknoker for that

Querist : Anonymous

Querist : Anonymous (Querist)

01 May 2010 I have not got the rates can u please provide the rates? ready recknoker provide only rates for gold and silver

CA KISHORE VANAMA

CA KISHORE VANAMA (Expert)
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01 May 2010 You have to see Rules book of Wealth Tax Act regarding this

CA KISHORE VANAMA

CA KISHORE VANAMA (Expert)
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01 May 2010 You have to see Rules book of Wealth Tax Act regarding this

CA KISHORE VANAMA

CA KISHORE VANAMA (Expert)
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01 May 2010 You have to see Rules book of Wealth Tax Act regarding this valuation

CA KISHORE VANAMA

CA KISHORE VANAMA (Expert)
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01 May 2010 You have to see Rules book of Wealth Tax Act regarding this valuation

Aditya Maheshwari

Aditya Maheshwari (Expert)
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01 May 2010 Or search on the net if you get it or consult a registered valuer for this.

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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05 May 2010 Practically speaking there are no such criteria to fix the prices of diamonds.
For Wealth Tax purpose; many advocates have used 10% appreciation per annum.

These are not branded items.

Loose diamonds were sold without any certificate.

Recently; it is now practice that loose diamonds are sold under Certificate which shows the quality of stone and cut (with photo of the diamond). But this one is followed for very costly diamonds.

Further, now-a-days; diamonds studded with gold/platinum/colour gold etc. (called diamond jewellery) are HALL MARKED.

Hall mark is an assurance like ISI mark.

In your case; better go to APPROVED VALUER and get it done to avoid litigation in future.

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