Wealth Tax Act-Rule 8A-Qualification for registration as a valuer of immoveable property.

Valuer registration criteria updated to raise minimum gross receipts requirement for consulting professionals, affecting property and plant valuations.

Rule 8A(2)(ii)(B) and Rule 8A(8)(ii)(B) permit registration as valuers where a person has been in practice as a consulting engineer, surveyor or architect for the prescribed period and, in the Board's opinion, has acquired sufficient experience in specified valuation-related fields. The Board applied a gross receipts criterion-minimum gross receipts in any three of the last five years of practice-to assess sufficient experience, and has substituted a revised higher annual gross receipts figure which is effective immediately.