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of <h1>Wealth Tax Act Rule 8A: Increased Income Criteria for Valuers' Registration; Now Rs.50,000 Annually Effective Immediately.</h1> The Wealth Tax Act's Rule 8A outlines qualifications for registering as a valuer of immovable property and machinery. Under Rule 8A(2), a person must have practiced as a consulting engineer, surveyor, or architect for at least ten years and gained sufficient experience in fields like valuation of buildings or urban lands. Rule 8A(8) requires similar qualifications for valuers of machinery and plant. Initially, applicants needed a minimum gross receipt of Rs.15,000 per annum for three out of the last five years, which has now been increased to Rs.50,000 per annum. These revised criteria are effective immediately.
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