https://www.taxtmi.com/acts?id=53456 Valuation under section 247(9) requires determination of fair market value by specified methods depending on the nature of the property. Immovable property is valued by stamp-duty value, with construction and improvement cost added where applicable; jewellery, art, shares and securities are valued under the prescribed valuation rule; and other property, or property not capable of such valuation, is valued at its open market price on the relevant date or dates. The valuation report must be submitted in Form No. 170 by the Valuation Officer, registered person, or approved person or entity. en-us Fri, 20 Mar 2026 18:14:42 +0530 Tue, 07 Apr 2026 13:08:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53456 Valuation under section 247(9) requires determination of fair market value by specified methods depending on the nature of the property. Immovable property is valued by stamp-duty value, with construction and improvement cost added where applicable; jewellery, art, shares and securities are valued under the prescribed valuation rule; and other property, or property not capable of such valuation, is valued at its open market price on the relevant date or dates. The valuation report must be submitted in Form No. 170 by the Valuation Officer, registered person, or approved person or entity. Act-Rules Income Tax Fri, 20 Mar 2026 18:14:42 +0530 https://www.taxtmi.com/acts?id=53456