https://www.taxtmi.com/acts?id=6343 The value of any asset other than cash for wealth-tax is its value on the valuation date as determined under Schedule III. An assessee may elect to value a house used exclusively for residential purposes by reference to the valuation date following acquisition (with constructed houses deemed owned on completion and independent residential units included). Where valuation is referred to the Valuation Officer, the officer's opinion of open-market price on the relevant valuation date governs. Business asset valuation may be determined as net asset value with prescribed adjustments. en-us Sat, 19 Jan 2008 22:45:54 +0530 Sat, 08 Sep 2012 12:13:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=6343 The value of any asset other than cash for wealth-tax is its value on the valuation date as determined under Schedule III. An assessee may elect to value a house used exclusively for residential purposes by reference to the valuation date following acquisition (with constructed houses deemed owned on completion and independent residential units included). Where valuation is referred to the Valuation Officer, the officer's opinion of open-market price on the relevant valuation date governs. Business asset valuation may be determined as net asset value with prescribed adjustments. Act-Rules Wealth-tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=6343