https://www.taxtmi.com/acts?id=11432 Fair market value of property other than immovable property, for the purposes of section 56, is determined by specific valuation rules for jewellery, artistic works, and shares and securities. Jewellery and artistic works are generally valued at the price they would fetch in the open market on the valuation date; where purchased from a registered dealer on that date, invoice value applies, and where received by other modes above the specified threshold, a registered valuer's report may be obtained. Quoted shares and securities are valued by transaction value where traded through a recognised stock exchange, or by reference to the relevant stock-exchange price where transferred otherwise. en-us Thu, 15 Apr 2010 07:34:48 +0530 Tue, 19 May 2026 12:50:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11432 Fair market value of property other than immovable property, for the purposes of section 56, is determined by specific valuation rules for jewellery, artistic works, and shares and securities. Jewellery and artistic works are generally valued at the price they would fetch in the open market on the valuation date; where purchased from a registered dealer on that date, invoice value applies, and where received by other modes above the specified threshold, a registered valuer's report may be obtained. Quoted shares and securities are valued by transaction value where traded through a recognised stock exchange, or by reference to the relevant stock-exchange price where transferred otherwise. Act-Rules Income Tax Thu, 15 Apr 2010 07:34:48 +0530 https://www.taxtmi.com/acts?id=11432