Rule 189 - Method of valuation for the purposes of computing fair market value of assets and liabilities under section 352(2) for accreted income

Fair market value rules set asset and liability valuation methods for accreted income under tax law.

Fair market value requires aggregating balance-sheet assets reduced by tax paid and non-asset items; quoted securities use average quoted prices, unquoted equity shares use a formula adjusting book assets, specified high-value assets and liabilities to derive per-share value, non-equity securities require merchant banker or accountant valuation, immovable property is the higher of registered valuer open-market price and stamp duty value, business undertakings are valued as net assets, and other assets require valuation reports from registered or recognised professional valuers.