https://www.taxtmi.com/acts?id=6475 For wealth tax purposes, immovable property is generally valued by multiplying net maintainable rent by 12.5 with adjusted multipliers for leasehold terms and a floor of cost of acquisition or construction subject to residential exceptions; net maintainable rent equals gross maintainable rent less local taxes and 15%. Business assets are valued globally from balance sheet figures with higher Schedule values prevailing if they exceed book values by over 20%. Jewellery is valued at fair market value with prescribed reporting, life interests use an actuarial fraction at 6.5% interest, and all other assets are valued by Assessing Officer or Valuation Officer at open market price. en-us Sat, 19 Jan 2008 22:45:54 +0530 Fri, 14 Sep 2012 14:28:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=6475 For wealth tax purposes, immovable property is generally valued by multiplying net maintainable rent by 12.5 with adjusted multipliers for leasehold terms and a floor of cost of acquisition or construction subject to residential exceptions; net maintainable rent equals gross maintainable rent less local taxes and 15%. Business assets are valued globally from balance sheet figures with higher Schedule values prevailing if they exceed book values by over 20%. Jewellery is valued at fair market value with prescribed reporting, life interests use an actuarial fraction at 6.5% interest, and all other assets are valued by Assessing Officer or Valuation Officer at open market price. Act-Rules Wealth-tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=6475