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<h1>Fair market value rules for foreign-owned assets: prescribed valuation methods and liability adjustments determine taxable value.</h1> Rule-based methods determine fair market value of assets held by a foreign company or entity on the specified date: listed Indian shares use observable exchange prices except where control exists, which triggers a formula adding market capitalisation and liabilities over outstanding shares; unlisted shares and other assets require merchant banker or accountant valuations using internationally accepted methodologies with liabilities added; partnership interests are allocated from firm value by capital contribution and dissolution or profit-sharing rules; aggregate fair market value equals market capitalisation or expert valuation plus book liabilities; interim valuations are adjusted after finalisation and foreign-currency conversions use the telegraphic transfer buying rate.
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