Income Declaration Scheme valuation and disclosure rules clarified; holding period, indexation and treatment of fictitious liabilities specified. Fictitious liabilities in audited accounts can be declared under the Income Declaration Scheme either as standalone liabilities when not linked to specific assets or as the fair market value of the linked asset when directly connected. Declarations do not affect finality of completed assessments but may be used in later assessments where a nexus exists. Valuation reports by registered valuers are accepted; misrepresentation by valuers invites legal action. Holding period for declared assets is the actual acquisition date, with indexation on declared amounts available only from the revaluation date. Mixed evidence immovable property must be valued part by part as per deed evidence and valuation rules.