Fair market value determination clarifies defined terms like balance-sheet, quoted/unquoted securities and valuation date for taxation purposes. Rule 11U defines terms for determining fair market value of non-immovable property, identifying the valuation date as when the property or consideration is received. It requires the company balance-sheet (with notes) drawn up on or immediately before the valuation date and audited under applicable company law for use in valuation. The rule also defines merchant banker (Category I registered), quoted and unquoted shares or securities, recognized stock exchange, registered dealer, and registered valuer by reference to existing statutory meanings.