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https://www.lawyersclubindia.com/experts/valuation-of-jewellary-under-wealth-tax-47681.asp
Nov 13, 2009 · Wealth tax will be charged @ 1% on the net wealth including jewellery in excess of Rs.15 lakhs on the valuation date (31st March of the Previous Year). Vineet (Expert) 15 November 2009. 15 November 2009 Valuation of Jewellery as on 31st March of the relevant year for which wealth tax is being paid. It is not mandatory to have any valuation ...
https://www.incometaxindia.gov.in/Acts/Wealth-Tax%20Act,%201957/102120000000026474.htm
JEWELLERY [Valuation of jewellery. 18. The value of the jewellery shall be estimated to be the price which it would fetch if sold in the open market on the valuation date (hereafter in this rule referred to as fair market value). (2) The return of net wealth furnished by the assessee shall be supported by,—
https://taxguru.in/income-tax/applicability-wealth-tax-making-charges-jewellery.html
Jun 25, 2014 · CA Vidhan Surana & CA Sunil Maloo. Whether wealth tax leviable on the making charges of the jewellery? – A Detailed Analysis. Under the scheme of Wealth Tax in India, Wealth tax is levied on the net wealth of the every individual, Hindu undivided family and company as on the valuation date.
https://taxguru.in/income-tax/valuation-accepted-wealthtax-act-adopted-computing-capital-gain-incometax-act.html
Moreover, the mode of valuation of jewellery under the Wealth Tax Act as it appears from Rule 18 of Schedule III of the said Act is also the fair market value, which is adopted in calculating the capital gain as indicated below: “ 18.
https://itatonline.org/articles_new/implications-of-jewellery-found-during-the-course-of-search-u-s-132-of-the-income-tax-act-1961/
Jun 11, 2020 · (i) In the case of a wealth-tax assessee, gold jewellery and ornaments found in excess of the gross weight declared in the wealth-tax return only need to be seized. (ii) In the case of a person not assessed to wealth-tax gold jewellery and ornaments to the extent of 500 gms. per married lady, 250 gms per unmarried lady and 100 gms. per male ...Estimated Reading Time: 12 mins
https://www.caclubindia.com/forum/valuation-of-assets-under-wealth-tax-act-1957-60124.asp
May 14, 2013 · VALUATION OF ASSETS UNDER WEALTH TAX ACT, 1957. Section 7 (1): Valuation of assets other than cash shall be determined in the manner laid down in schedule III of the wealth Tax Act. Before moving ahead first let’s see the assets which fall under the definition of assets as per section 2 (ea) and shall be included in the wealth of a person.
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