TMI BlogQualifications of registered valuersX X X X Extracts X X X X X X X X Extracts X X X X ..... ) in a post under any other employer carrying a remuneration of not less than Rs. 3 [2,000] per month, and, in either case, must have retired or resigned from such employment after having rendered service for not less than 4 [ten] years as a valuer, architect or town planner, or in the field of construction 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 surv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trar under the Registration Act, 1908 (16 of 1908), or any other officer of equivalent rank performing similar functions and must have retired or resigned from such employment after having rendered service in any one or more of the posts aforesaid for an aggregate period of not less than five years, out of which not less than three years must have been in areas, wherein coffee, tea, rubber or, as the case may be, cardamom is extensively grown. (5) A valuer of forest must be a person formerly employed in a post under Government and must have retired or resigned 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 gazette ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the Central Government in the field of mechanical or electrical engineering; and ] (ii) (A) 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. 23 [2,000] per month, and, in either case, must have retired or resigned from such employment after having rendered service as a mechanical or electrical engineer 24 [or valuer of machinery and plant] for a period of not less than 25 [ten] years, or (c) as a professor, reader or lecturer in a university, college or institution preparing students for a degree in mechanical or electrical engineering or for 26 [any qualification] referred to in clause (i), and must have retired or resigned from such employment after having taught for a period of not less than 27 [ten] years; or 28 (B) he must have been in practice as a consulting 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 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of not less than 33 [ten] years; or (b) he must have rendered continuous service for a period of not less than 34 [ten] years as an actuary under Government or in the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956); or (c) he must have practised as an actuary or served as such under Government or in the Life Insurance Corporation of India referred to in sub-clause (b) for an aggregate period of not less than 35 [ten] years. (12) No person shall qualify for registration as a valuer, other than as a valuer of works of art, if he is employed under Government or any other employer. (13) Notwithstanding anything contained in sub-rules (1) to (12), no person shall qualify for registration as a valuer if, (a) he has been dismissed or removed from Government service; or (b) he has been convicted of an offence connected with any proceeding under the Income-tax Act, 1961 (43 of 1961), or the Wealth-tax Act, 1957 (27 of 1957), or the Gift-tax Act, 1958 (18 of 1958), or a penalty has been imposed on him under clause (iii) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ofession, or (iv) gained experience in any other capacity or field, as specified therein, shall be deemed to have been fulfilled if the period for which the applicant has rendered such service, taught such subject, practised such profession or otherwise gained experience in such other capacity or field, taken either singly or collectively, is not less than ten years or five years, as the case may be, in the foregoing sub-rules.] Explanation 40 [1]. In this rule, "recognised University" means any of the universities specified below, namely: I. Indian Universities : Any Indian University incorporated by any law for the time being in force. II. Rangoon University. III. English and Welsh Universities : The Universities of Birmingham, Bristol, Cambridge, Durham, Leeds, Liverpool, London, Manchester, Oxford, Reading, Sheffield and Wales. IV. Scottish Universities : The Universities of Aberdeen, Edinburgh, Glasgow and St. Andrews. V. Irish Universities : The Universities of Dublin (TrinityCollege), the Queen's University, Belfast and the National University of Dublin. VI. Pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (c) architectural or structural designing of buildings or town planning; or (d) construction of buildings or development of land. 8. Inserted vide Wealth-tax (First Amendment) Rules, 1995, w.e.f. 31-1-1995. 9. Inserted by the Wealth-tax (First Amendment) Rules, 1997, w.e.f. 5-3-1997. 10. Substituted vide Wealth-tax (Amendment) Rules, 1977, w.e.f. 12-1-1977. 11. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read:- 1,000 12. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- five 13. Inserted vide Wealth-tax (Second Amendment) Rules, 1974, w.e.f. 8-10-1974. 14. Substituted vide Wealth-tax (Amendment) Rules, 1993, w.e.f. 8-2-1993. Before substitution, sub-clause (A), as amended by the Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988, read as under : (A) he must have been in practice as a chartered accountant or a cost and works accountant or a Company Secretary for a period of not less than ten years, or . 15. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- 1,000 16. Subs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... years, a sole proprietor or partner in a partnership firm carrying on jewellery business which has a turnover of not less than Rs. 1 lakh or profits of not less than Rs. 15,000 in two out of the three accounting years immediately preceding the year in which the application for registration as a valuer is made by him. 32. Inserted vide Wealth-tax (Fourth Amendment) Rules, 1988, w.r.e.f. 1-6-1988. 33. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was tread as:- five 34. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was tread as:- five 35. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was tread as:- five 36. Substituted for clause (d) by the Wealth-tax (Second Amendment) Rules, 1980, w.e.f. 28-1-1980. 37. Substituted for the following clause (ii) by the Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988 : (ii) in any other case, by the Board in accordance with the procedure laid down in rules 8F to 8L, which, in the opinion of the Board, renders him unfit to be registered as a valuer. 38. Inserted vide Wealth-tax (Se ..... X X X X Extracts X X X X X X X X Extracts X X X X
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