Wealth tax
This query is : Resolved
ARUP SAHOO
(Querist)
10 September 2014
How valuation of asset has to be done in case of filing of WT return? For valuation of each immovable asset does it requires a valuer report assuming the net wealth exceeds 30 lakhs?
10 September 2014
There is no valuer report required for valuation of assets for wealth tax act of 1957 but value you adopted should be fair market value and some valuation methods are prescribed under section 2(ea) of the act .
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