QUESTION & OPINION

– B. Kanaga Sabapathy 29.01.2022

Question :

I am a beginner in valuation. What is the difference between empanelment and registration?

Opinion :

1. “Registration” is a word to be used when you are registered as a valuer under section 34 AB of Wealth Tax Act or under Companies Act or under section 77(1) of Black Money Act, whereas empanelment is the word to be used when you apply to any bank or any institution to become a panel valuer

2. To become a registered valuer, experience as panel valuer of banks may be considered and similarly to become a panel valuer, registration under the Companies Act or Wealth Tax Act may be considered.

3. Example: Mr. ‘X’ is a registered valuer of the Wealth Tax Act and he is also a panel valuer of State Bank of India, Union Bank, Bank of India.

4. Eligibility to become a registered valuer is as per the Concerned Act. Eligibility to become a panel valuer is as per the guidelines framed by the concerned bank.