Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 34AB – The Wealth-Tax Act, 1957

The Wealth-Tax Act, 1957

 

 

34AB. Registration of valuers .

 

1[34AB. Registration of valuers .—(1) The 6 [Chief Commissioner or Director-General] shall maintain a register to be called the Register of Valuers in which shall be entered the names and addresses of persons registered under sub-section (2) as valuers.

 

(2) Any person who possesses the qualifications prescribed in this behalf may apply to the 2[Chief Commissioner or Director-General] in the prescribed form for being registered as a valuer under this section:

 

Provided that different qualifications may be prescribed for valuers of different classes of assets.

 

(3) Every application under sub-section (2) shall be verified in the prescribed manner, shall be accompanied by such fees as may be prescribed and shall contain a declartion to the effect that the applicant will (i) make an impartial and true valuation of any asset which he may be required to value;

 

(ii) furnish a report of such valuation in the prescribed form;

 

(iii) charge fees at a rate not exceeding the rate or rates prescribed in this behalf;

 

(iv) not undertake valuation of any asset in which he has a direct or indirect interest.

 

(4) The report of valuation of any asset by a registered valuer shall be in the prescribed form and be verified in the prescribed manner. ]

 

——————————————–

1. Chapter VIIB (containing sections 34AB) ins. by Act 45 of 1972, sec. 14 (w.e.f. 15-11-1972).

 

2. Subs. by Act 26 of 1988, sec. 58, for “Board” (w.e.f. 1-6-1988).

 

 

Previous | Next

 

The Wealth-Tax Act, 1957

 

Indian Laws – Bare Acts

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2021 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation