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of <h1>Fair Market Value Rules for Jewelry, Shares, and Securities Under Income Tax Regulations Section 50CA</h1> The fair market value of property other than immovable property for income tax purposes is determined based on specific rules. Jewellery and artistic works are valued at their open market price or invoice value if purchased from a registered dealer; if received otherwise and valued over fifty thousand rupees, a registered valuer's report may be obtained. Quoted shares and securities are valued at transaction price on recognized stock exchanges or the lowest traded price if no transaction occurs on the valuation date. Unquoted equity shares are valued using a formula based on adjusted book value of assets and liabilities, multiplied by the paid-up value ratio, or by merchant banker valuation methods including discounted cash flow and other recognized approaches. Special provisions apply for shares issued to venture capital entities and for compulsorily convertible preference shares. Valuation reports dated within ninety days prior to share issuance may be used as the valuation date, and minor deviations up to ten percent between issue price and valuation are accepted as fair market value.
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