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<h1>Fair market value rules for non immovable property clarified, prescribing asset specific valuation methods and eligible valuers.</h1> Determination of fair market value for property other than immovable property is prescribed for purposes of section 56, defining key terms and setting asset specific methods: jewellery and artistic works are valued at open market price (invoice value if from a registered dealer; registered valuer's report may be obtained where applicable); quoted securities are valued by exchange transaction value or lowest quoted prices when off exchange; unquoted equity shares are valued by a prescribed balance sheet based formula; other unlisted securities are valued by open market estimate with merchant banker or accountant report permissible.