Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News
Highlights
D. Forum
What's New
Sub-Menu

Share:      

        Home        
 
Home Acts & Rules Wealth-tax Rule Wealth Tax Rules, 1957 This
← Previous Next →
  • Login
  • Plus+

 

User Login
Username  
Password  
Stay sign in     

Forget password       New User/ Regiser


Register for Demo / Trial


Annual Subscription Offer

With popular demand, we introduce:-
Special offer on GST Package for Professionals
i.e. CA/CWA/CS/Advocate/Others @ 2500/- +GST



 

Rule 8A - Qualifications of registered valuers - Wealth Tax Rules, 1957

Extract

..... nstruction of buildings, designing of structures, or development of land; or (c) as a professor, reader or lecturer in a university, college or any other institution preparing students for a degree in civil engineering, architecture or town planning, or for 5[any qualification] referred to in clause (i), and must have retired or resigned from such employment after having taught for not less than 6[ten] years any of the subjects of valuation, quantity surveying, building construction, architecture, or town planning; OR 7[(B) he must have been in practice as a consulting engineer 8[,valuer of real estate], surveyor or architect for a period of not less than ten years and must have acquired experience in any of the following four fields :- (a) valuation of buildings and urban lands; or (b) quantity surveying in building construction; or (c) architectural or structural designing of buildings or town planning; or (d) construction of buildings or development of land; and his gross receipts from such practice should not be less than fifty thousand rupees in any three of the five preceding years :] 9[Provided that in the case of a person possessing a post-graduate degree in valuation of re .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Rule 8A - Qualifications of registered valuers - Wealth Tax Rules, 1957

X X   X X   Extracts   X X   X X

..... signed from such employment after having rendered service for not less than five years in a gazetted post requiring specialised knowledge in forestry. (6) A valuer of mines and quarries shall have the following qualifications, namely:- 10[(i) he must be a graduate in mining of a recognised university, or must possess a qualification recognised by the Central Government for recruitment to superior services or posts under the Central Government in the field of mining; and] (ii) he must be a person formerly employed- (a) in a post under Government as a gazetted officer, or (b) in a post under any other employer carrying a remuneration of not less than Rs. 11[2,000] per month, and, in either case, must have retired or resigned from such employment after having rendered service as a mining engineer for not less than 12[ten] years. (7) A valuer of stocks, shares, debentures, securities, shares in partnership firms and of business assets, including goodwill but excluding those referred to in sub-rules (2) to (6) and (8) to (11), shall have the following qualifications, namely :- (i) he must be a member of the Institute of Chartered Accountants of India or the Institute of Cost and Works A .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Rule 8A - Qualifications of registered valuers - Wealth Tax Rules, 1957

X X   X X   Extracts   X X   X X

..... engineer 29[or valuer of machinery and plant] for a period of not less than ten years and must have acquired experience in the valuation of machinery and plant and his gross receipts from such practice should not be less than fifty thousand rupees in any three of the five preceding years:] 30[Provided that in the case of a person, possessing a post-graduate degree in valuation of machinery and plant from a recognised university, the provisions of this sub-rule shall have effect as if,- (a) for the words "ten years", the words "two years" had been substituted; (b) for the words "fifty thousand rupees in any three of five preceding years", the words "fifty thousand rupees in any one of the two preceding years" had been substituted.] 31[(9) A valuer of jewellery must have been, for a period of not less than five years, a sole proprietor or partner in a partnership firm carrying on jewellery business which has on an average an annual turnover of not less than rupees 15 lakhs 32[or profit (including fees for valuation of not less than rupees fifty thousand)] in the last three accounting years immediately preceding the year in which the application for registration as a valuer is made by .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Rule 8A - Qualifications of registered valuers - Wealth Tax Rules, 1957

X X   X X   Extracts   X X   X X

..... ion (1) of section 17 of the Gift-tax Act, 1958; or (c) he is an undischarged insolvent; or 36[(d) he has been convicted of any offence and sentenced to a term of imprisonment; or (e) he has been found guilty of misconduct in his professional capacity,- (i) in a case where he is a member of any association or institution established in India having as its object the control, supervision, regulation or encouragement of the profession of engineering, architecture, accountancy, or company secretaries or such other profession as the Board may specify in this behalf by notification in the Official Gazette, by such association or institution; or 37[(ii) in any other case, by the Chief Commissioner or the Director General in accordance with the procedure laid down in rule 8F and rules 8H to 8K, which in the opinion of the Chief Commissioner or the Director General, renders him unfit to be registered as a valuer.]] 38[(13A) Notwithstanding anything contained in sub-rules (2), (6), (7), (8) and (11) as amended by the Wealth-tax (Second Amendment) Rules, 1988, the provisions of the said sub-rules, as they stood immediately before such amendment, shall continue to apply in the case of a perso .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Rule 8A - Qualifications of registered valuers - Wealth Tax Rules, 1957

X X   X X   Extracts   X X   X X

..... or the purposes of this rule, unless the membership has been granted on the basis of passing the examinations conducted by the institution.] - Notes:- 1. Inserted vide Wealth-tax (Third Amendment) Rules, 1972, w.e.f. 15-11-1972. 2. Substituted vide Wealth-tax (First Amendment) Rules, 1995, w.e.f. 31-1-1995. Before substitution, clause (i) was substituted by the Wealth-tax (Amendment) Rules, 1977, w.e.f. 12-1-1977, read as under: “(i) he must either be a graduate in civil engineering, architecture or town planning of a recognised university, or possess a qualification recognised by the Central Government for recruitment to superior services or posts under the Central Government in the field of civil engineering, architecture or town planning; and” 3. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- “1,000” 4. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- “five” 5. Substituted vide Wealth-tax (Amendment) Rules, 1977, w.e.f. 12-1-1977. 6. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- &ldquo .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Rule 8A - Qualifications of registered valuers - Wealth Tax Rules, 1957

X X   X X   Extracts   X X   X X

..... ) Rules, 1997, w.e.f. 5-3-1997. Before substitution, clause (i), as substituted by the Wealth-tax (Amendment) Rules,1977, w.e.f.12-1-1977, read as under : “(i) he must either be a graduate in mechanical or electrical engineering of a recognised university, or possess a qualification recognised by the Central Government for recruitment to superior services or posts under the Central Government in the field of mechanical or electrical engineering; and”. 23. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- “1,000” 24. Inserted vide Wealth-tax (First Amendment) Rules, 1997, w.e.f. 5-3-1997. 25. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- “five” 26. Substituted vide Wealth-tax (Amendment) Rules, 1977, w.e.f. 12-1-1977. 27. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- “five” 28. Substituted vide Wealth-tax (Amendment) Rules, 1993, w.e.f. 8-2-1993. Before substitution, sub-clause (B), as amended by the Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988, read as under : &l .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Rule 8A - Qualifications of registered valuers - Wealth Tax Rules, 1957

X X   X X   Extracts   X X   X X

 

← Previous Next →

 

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||