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https://taxguru.in/income-tax/applicability-wealth-tax-making-charges-jewellery.html
Jun 25, 2014 · Valuation of jewellery. (1) 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://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).
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://www.incometaxindia.gov.in/Tutorials/41.%20Wealth_Tax.pdf
Wealth tax is levied on the net wealth owned by a person on the valuation date, i.e., 31st March of every year. Wealth-tax is levied at 1% on the net wealth in excess of Rs. 30,00,000. Entities which are not liable to wealth-tax Following entities are not liable to pay wealth-tax: (a) any company registered under section 25 of the Companies Act;
https://enterslice.com/learning/wealth-tax-in-india/
Jun 02, 2021 · This tax was based on the assets valuation as on March 31 and, therefore, would be applicable on assets acquired at the end of a financial year. However, those assets that were sold during the year don’t fall under the ambit of wealth tax. Wealth tax was calculated at 1 percent on net wealth more than 30 lakh rupees. Wealth tax in India ...
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