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of <h1>Understanding Black Money Rules: Valuation Methods for Foreign Assets Including Bullion, Shares, and Real Estate for Tax Purposes</h1> The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015, outline methods for determining the fair market value of various assets for tax purposes. The value of bullion, jewellery, precious stones, artistic works, shares, securities, immovable property, bank accounts, and interests in partnerships is assessed based on acquisition cost or market price. Specific formulas apply to unquoted shares and liabilities. The rules also address asset transfers, currency conversion, and valuation dates. Assets are valued in Indian currency, with conversion rates specified by the Reserve Bank of India or relevant foreign authorities.
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