Wealth Tax on Gold lrnaments

This query is : Resolved

Amin Jignesh (Querist)
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26 February 2009 For wealth Tax Purpose,

1) Is it compulsory to take a clolur zerox copy of all ornaments with details of weight??? or how can we make a records of gold ornaments for wealth tax purpose??? is there any format??

2) For how many years a gold valuation reports can be used ?????

Thanks in advance

Jignesh Amin

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 February 2009 1) Left open for discussion.

2) The report of the registered valuer obtained for one assessment year can also be used for subsequent four assessment years subject to adjustment specified in para 3 of CBDT circular 646 dated 15/3/1993. For the said circular pl refer www.incometaxindia.gov.in OR 200 ITR(St)228.

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