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of <h1>Rule 1C of Wealth Tax Rules, 1957: Valuation Method for Unquoted Preference Shares Based on Dividend Rates.</h1> Rule 1C of the Wealth Tax Rules, 1957, which was omitted in 1989, previously outlined the valuation method for unquoted preference shares. If the dividend rate was at least eight percent, the market value equaled the paid-up value. For dividends below eight percent, it was the adjusted paid-up value. If no dividend was paid for at least three consecutive years, the value was reduced by specified percentages for non-cumulative shares and half those rates for cumulative shares. The 'adjusted paid-up value' related to the proportion of the stipulated dividend rate to eight percent.
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