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https://taxguru.in/income-tax/applicability-wealth-tax-making-charges-jewellery.html
Jun 25, 2014 · Provisions relating to Valuation of ‘jewellery’ under the Wealth Tax Act:-Section 7 of the Wealth tax Act, 1957 provides for ‘Value of assets, how to be determined’, which reads as under:-7. Value of assets, how to be determined
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.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.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.
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://taxguru.in/income-tax/gold-silver-rates-urrent-ten-assessment-years-april-1-1981.html
Valuation of Jewellery Under erstwhile Wealth Tax Act Provisions Rules 18 and 19 which provide the manner in which valuation of jewellery is to be determined. 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.
https://www.incometaxindia.gov.in/Tutorials/41.%20Wealth_Tax.pdf
Wealth tax is levied on the value of assets owned by the taxpayer on the valuation date, i.e., 31st March of the relevant year. Value of any asset liable to wealth-tax (other than cash) is to be determined in the manner prescribed in the Valuation Rules (i.e., rules given in Schedule III of Wealth-tax Act).
http://www.club4ca.com/formats/wp-content/uploads/2013/09/Wealth-tax-direct-taxes-ca-final.pdf
Rules are gi en for aluation of asset u/s 2(ea), in Schedule III of wealth tax Act. Specific aluation rules apply for building and Jewellery. Where there is no specific rule for valuation, apply Rule 20, which specifies that value would be realizable value if sold in the open market on valuation date.
http://www.miraajassociates.com/rules/Wealth%20Tax%20Rules%201957.pdf
WEALTH-TAX RULES, 1957 (SRO 3384, Dated. 18-10- 1957) In exercise of the powers conferred by section 46 of the Wealth-tax Act. ]957 (27 of 1957), the Central Board of Revenue hereby makes the following rules, namely:-- 1.- Short title and commencement. (1) These rules may be called the Wealth-tax …
https://www.slideshare.net/krishigokani/wealth-tax-11330073
Jan 30, 2012 · VALUATION OF ASSETSAssets are valued as per rules given inSCHEDULE III of Wealth Tax Act, 1957B Capitalized NMRM Fair Market ValueJ Fair Market ValueU Fair Market ValueC Amount of CashY Fair Market Value 23.
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