Fair market value rules for non immovable property clarified, prescribing asset specific valuation methods and eligible valuers. 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.