Determination of fair market value

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.... Nature of Property Manner of determination of Fair Market Value A B C D 1 Sections 26(2)(j) and 92. Jewellery (a) The price which such jewellery would fetch, if sold in the open market on the valuation date; or (b) if the jewellery is received by way of purchase from a registered dealer on the valuation date, the invoice value of such jewellery; or (c) if the jew....

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....t would fetch, if sold in the open market on the valuation date. 3 Sections 26(2)(j) and 92. Quoted shares and securities (a) If the quoted shares and securities are received by way of transaction carried out through any recognised stock exchange, the fair market value of such shares and securities shall be the transaction value as recorded in such stock exchange; or (b) if such quo....

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....ssets as appearing in the books of the company (other than jewellery, artistic work, shares, securities and immovable property) in the balance sheet as reduced by- (a) any amount of income-tax paid, if any, less the amount of income-tax refund claimed, if any; and (b) any amount shown as asset including the unamortised amount of deferred expenditure which does not represent the v....

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....ate of transfer at a general body meeting of the company; (iii) reserves and surplus, by whatever name called, even if the resulting figure is negative, other than those set apart towards depreciation; (iv) any amount representing provision for taxation, other than amount of income-tax paid, if any, less the amount of income-tax claimed as refund, if any, to the extent of the exc....