Wealth tax rate for daimond for ay 13-14

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ANJALI (Querist)
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22 October 2013 What rate should we consider for diamonds In Case Of Wealth Tax Valuation For AY 13-14 For Filing Wealth tax return ?????

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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22 October 2013 Rule 14 and 15 of Valuation rule shall be applicable for valuation of jewellery.

If value of diamond on 31/3 is less then 5,00,000 then assessee needs to file form 0-8 along with the return of income.

If value on 31.3. is more then 5,00,000 then Form O-8 to be filed from a registered valuer along with return of wealth.

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