Fair market value rules for undisclosed foreign assets set valuation, conversion, declaration and appeal procedures under the Act. Rules prescribe valuation methods and procedures under the Black Money Act, specifying that fair market value for categories of foreign assets (bullion, jewellery, artistic works, quoted and unquoted shares, immovable property, bank accounts, partnership interests and other assets) will be the higher of cost of acquisition or open-market price, subject to adjustments for transfers before valuation date and offsets where consideration is reinvested; set currency conversion rules using Reserve Bank reference rates or specified central bank rates; and establish forms, fees and conditions for declaration, notice of demand, appeals and recovery, with detailed annexures for disclosures.