TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Wealth-tax Act Section 7 amended: Valuation Officers to estimate asset value based on open market price.</h1> Section 7 of the Wealth-tax Act, 1957, is amended by the Taxation Laws (Amendment) Act, 1972, to include a new sub-section (3). This provision allows the Wealth-tax Officer to refer the valuation of any asset to a Valuation Officer under section 16A. The Valuation Officer is then responsible for estimating the asset's value based on the price it would likely fetch if sold in the open market on the valuation date, overriding the method in sub-section (1).
TaxTMI 
