SCALE OF FEES TO BE CHARGED BY A REGISTERED VALUER
UNDER RULE 8C OF WEALTH TAX ACT
[Scale of fees to be charged by a registered valuer.
8C. (1) Subject to the provisions of sub-rules (2) and (3), the fees to be charged by a registered valuer for valuation of any asset shall not exceed the amount calculated at the following rates, namely:—
(a) On the first Rs. 5,00,000 of the asset as valued 1/ 2 per cent of the value;
(b) On the next Rs. 10 lakhs of the asset as valued 1/ 5 per cent of the value;
(c) On the next Rs. 40 lakhs of the asset as valued 1/ 10 per cent of the value;
(d) On the balance of the asset as valued 1 /20 per cent of the value.
(2) Where two or more assets are required to be valued by a registered valuer at the instance of an assessee, all such assets shall be deemed to constitute a single asset for the purposes of calculating the fees payable to such registered valuer.
(3) Where the amount of fees calculated in accordance with sub-rules (1) and (2) is less than Rs. 500, the registered valuer may charge Rs. 500 as his fees.]
SAMPLE OF FEE STRUCTURE OF VARIOUS BANKS
[Form of report of valuation by registered valuer.
8D. The report of valuation by a registered valuer in respect of any asset specified in column (1) of the Table below shall be in the Form specified in the corresponding entry in column (2) thereof and shall be verified in the manner indicated in such Form :—
[Application for registration as valuer.
8B. (1) An application for registration as a valuer under section 34AB shall be in Form N and shall be verified in the manner specified therein and shall be accompanied by a fee of Rs. 1,000 which shall not be refunded if the application is rejected.
(2) In the case of a person whose name has been included in the Register of Valuers on or after the 1st day of June, 1985, but before the 1st day of June, 1988, and who makes an application for continuation of his registration as a valuer under sub-section (1) of section 34AE, such application need not be accompanied by any fee.
(3) Where an application for registration as a valuer is pending before the Board immediately before the 1st day of June, 1988, and such application includes the details of the revised qualifications specified in sub-rules (2), (6), (7), (8), (9) and (11) of rule 8A, such application may be treated as valid if the applicant remits a further fee of Rs. 750 to the Chief Commissioner or the Director General within a period of three months from the 1st day of June, 1988:
Provided that where such application does not include the revised qualifications as specified in the aforesaid provisions of rule 8A, a fresh application for registration as a valuer shall be made and the fee already paid by the applicant shall be adjusted towards the payment of fee of Rs. 1,000 :
Provided further that where any person has become ineligible for making an application for registration as a valuer in view of the revised qualifications specified in the aforesaid provisions of rule 8A, the fee already paid by the applicant shall be refunded on an application made by him to the Chief Commissioner or Director General.]
