Wealth tax

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CA Monica Patel

CA Monica Patel (Querist)
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26 September 2012 Respected sir,
kindly tell me, what is the rate of diamond per CTS for wealth tax purpose?.

CA Navin Jain

CA Navin Jain (Expert)
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26 September 2012 Hi Monika,

you can take the diamond value as per valuer certificate.

CA Monica Patel

CA Monica Patel (Querist)
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26 September 2012 presently, i dont have valuer certificate for the purpose of valuation...

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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03 August 2025 For wealth tax valuation of diamonds, here’s what you can do:

* **Wealth Tax Act doesn’t specify a fixed rate per carat (CTS) for diamonds.**
* The **value must be based on a fair market valuation**, typically by a **certified valuer** or a **recognized gemological institute** (e.g., GIA, IGI).
* If you don’t have a valuer’s certificate yet, you should get one because wealth tax authorities expect a **professional valuation** for precious stones.
* Until you get the certificate, you cannot reasonably declare a fixed rate per CTS; market prices fluctuate widely based on cut, clarity, color, and carat weight.

**Suggestion:**
Get your diamonds valued by a reputed certified valuer to comply with wealth tax norms.

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