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of <h1>Wealth-tax Act Amendment Allows New Method for Calculating Quoted Share Values Using Multi-Year Quotation Averages</h1> The amendment modifies Schedule III of the Wealth-tax Act, 1957, introducing a new rule for valuing quoted shares. Shareholders can now calculate share value using an average of quotations from the current and four preceding assessment years. The option requires certification by an accountant and must be attached to the wealth return. Certain sub-rules in rule 12 are simultaneously omitted, effective from April 1, 1989.
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