VALUERS ALERT

INCOME TAX ACT, 2025 USHERS IN A NEW ERA FOR REGISTERED VALUERS

Understanding Section 514 and the Transition of Existing Rule 34AB Valuers under the Income Tax Rules, 2026

An Advisory for Members of the Council of Engineers & Valuers

The introduction of the Income Tax Act, 2025 marks one of the most significant reforms in the regulatory framework governing registered valuers in India. With the enforcement of the Income Tax Rules, 2026, the Government has laid down a structured mechanism for recognising and regulating valuers under the new legislation.

For thousands of professionals who were already recognised under the earlier framework applicable to valuers under Rule 34AB, the transition to the new regime is not automatic in every respect. Existing valuers are expected to comply with the prescribed transition procedure so that their registration continues seamlessly under the new law.

Recognising the importance of this issue, the Council of Engineers & Valuers (CEV) has undertaken a detailed study of the emerging legal framework to guide its members through this transition.

सीईवी टेक्नो न्यूज़ – विशेष मार्गदर्शिका

आयकर अधिनियम, 2025 की धारा 514

मौजूदा आयकर पंजीकृत मूल्यांककों (Rule 34AB Valuers) के लिए महत्वपूर्ण जानकारी

काउंसिल ऑफ इंजीनियर्स एंड वैल्यूअर्स (CEV) की ओर से विशेष सलाह

1. यह नया कानून क्या है?

आयकर अधिनियम, 2025 के लागू होने के बाद अब आयकर विभाग ने मूल्यांककों (Registered Valuers) के लिए नई पंजीकरण व्यवस्था लागू की है।

जो मूल्यांकक पहले से पुराने नियमों (Rule 34AB) के अंतर्गत पंजीकृत हैं, उन्हें भी नए नियमों के अनुसार निर्धारित प्रक्रिया पूरी करनी होगी।

2. क्या पुराने Registered Valuers का पंजीकरण स्वतः जारी रहेगा?

सिर्फ पुराना पंजीकरण होना पर्याप्त नहीं माना जाना चाहिए।

यदि सरकार ने नई प्रक्रिया निर्धारित की है, तो प्रत्येक मूल्यांकक को समय सीमा के भीतर आवश्यक आवेदन एवं दस्तावेज प्रस्तुत करने चाहिए।

3. धारा 514 का उद्देश्य क्या है?

इस धारा का मुख्य उद्देश्य है—

पूरे देश के Registered Valuers का अद्यतन रिकॉर्ड तैयार करना।
सभी मूल्यांककों का डिजिटल डाटाबेस बनाना।
पारदर्शिता एवं उत्तरदायित्व बढ़ाना।
भविष्य की मूल्यांकन प्रणाली को अधिक विश्वसनीय बनाना।

4. प्रत्येक Registered Valuer को क्या करना चाहिए?

प्रत्येक सदस्य को चाहिए कि वह—

✅ अपना पुराना Registration Certificate सुरक्षित रखे।

✅ सभी शैक्षणिक प्रमाण-पत्र व्यवस्थित करे।

✅ पहचान सम्बन्धी दस्तावेज तैयार रखे।

✅ अपना मोबाइल नम्बर एवं ई-मेल अपडेट रखे।

✅ सभी आवश्यक दस्तावेजों की स्कैन कॉपी भी तैयार रखे।

5. आवेदन भरते समय किन बातों का ध्यान रखें?

कोई कॉलम खाली न छोड़ें।
सभी दस्तावेज स्पष्ट एवं पढ़ने योग्य हों।
नाम, पता, PAN आदि सभी जगह समान हों।
आवेदन जमा करने से पहले एक बार पुनः जाँच अवश्य करें।

6. आवेदन जमा करने के बाद क्या करें?

आवेदन की रसीद (Acknowledgement) सुरक्षित रखें।
आवेदन संख्या नोट करें।
सभी दस्तावेजों की प्रतियाँ सुरक्षित रखें।
यदि विभाग कोई स्पष्टीकरण माँगे तो शीघ्र उत्तर दें।

7. किन गलतियों से बचें?

❌ अंतिम तिथि तक प्रतीक्षा न करें।

❌ अधूरे दस्तावेज जमा न करें।

❌ सोशल मीडिया की अपुष्ट जानकारी पर विश्वास न करें।

❌ आवेदन बिना जाँच किए जमा न करें।

❌ गलत मोबाइल नम्बर या ई-मेल न दें।

8. आवश्यक दस्तावेज कौन-कौन से हो सकते हैं?

PAN कार्ड
आधार (यदि लागू हो)
पुराना Registration Certificate
शैक्षणिक प्रमाण-पत्र
अनुभव प्रमाण
पासपोर्ट साइज फोटो
पता प्रमाण
प्रोफेशनल सदस्यता प्रमाण-पत्र
घोषणा/Undertaking
अन्य आवश्यक दस्तावेज

9. प्रत्येक मूल्यांकक को अपनी व्यक्तिगत फाइल में क्या रखना चाहिए?

Registration Certificate
Degree Certificates
PAN
Aadhaar
अनुभव विवरण
सभी आवेदन
सभी पत्राचार
प्रशिक्षण प्रमाण-पत्र
Professional Memberships
Passport Photographs

10. CEV की अपने सदस्यों को सलाह

काउंसिल ऑफ इंजीनियर्स एंड वैल्यूअर्स अपने सभी सदस्यों से आग्रह करती है कि—

समय रहते तैयारी प्रारम्भ करें।
सभी दस्तावेज व्यवस्थित रखें।
केवल सरकारी अधिसूचनाओं एवं अधिकृत जानकारी पर भरोसा करें।
CEV द्वारा आयोजित Webinar एवं Seminar में भाग लें।
सभी वैधानिक प्रक्रियाओं का समय पर पालन करें।

11. CEV सरकार से क्या अपेक्षा करता है?

काउंसिल का मानना है कि सरकार को—

विस्तृत दिशा-निर्देश (Guidelines) जारी करने चाहिए।
Frequently Asked Questions (FAQ) प्रकाशित करने चाहिए।
ऑनलाइन आवेदन प्रणाली विकसित करनी चाहिए।
आवेदन की स्थिति ऑनलाइन देखने की सुविधा उपलब्ध करानी चाहिए।
छोटे-मोटे त्रुटियों को सुधारने का अवसर देना चाहिए।
पूरे भारत में एक समान प्रक्रिया लागू करनी चाहिए।

12. प्रत्येक सदस्य के लिए कार्य योजना

पहला चरण

आयकर अधिनियम, 2025 एवं आयकर नियम, 2026 का अध्ययन करें।

दूसरा चरण

अपना पुराना Registration सत्यापित करें।

तीसरा चरण

सभी आवश्यक दस्तावेज तैयार करें।

चौथा चरण

आधिकारिक अधिसूचनाओं पर नियमित नजर रखें।

पाँचवाँ चरण

निर्धारित समय के भीतर आवेदन प्रस्तुत करें।

छठा चरण

सभी रसीदें एवं पत्राचार सुरक्षित रखें।

13. CEV का संदेश

यह नया कानून मूल्यांकन व्यवसाय को अधिक व्यवस्थित, पारदर्शी एवं विश्वसनीय बनाने की दिशा में एक महत्वपूर्ण कदम है।

यदि सभी Registered Valuers समय पर आवश्यक प्रक्रिया पूरी करेंगे, तो भविष्य में किसी प्रकार की प्रशासनिक कठिनाई से बचा जा सकेगा।

14. अंतिम संदेश

“एक सफल Registered Valuer केवल अच्छा मूल्यांकनकर्ता ही नहीं होता, बल्कि वह कानून का पालन करने वाला, अद्यतन ज्ञान रखने वाला तथा उच्च नैतिक मूल्यों वाला पेशेवर भी होता है।”

काउंसिल ऑफ इंजीनियर्स एंड वैल्यूअर्स अपने सभी सदस्यों से अपील करती है कि वे इस परिवर्तन को सकारात्मक रूप से स्वीकार करें, समय पर अनुपालन करें तथा अपने व्यवसाय की गरिमा और विश्वसनीयता को और अधिक मजबूत बनाएं।

— काउंसिल ऑफ इंजीनियर्स एंड वैल्यूअर्स (CEV)
सीईवी टेक्नो न्यूज़

Why is Section 514 Important?

Section 514 of the Income Tax Act, 2025 establishes the statutory framework for the recognition and regulation of registered valuers for purposes of the Income Tax law. It replaces the earlier procedural framework and seeks to create a uniform system of registration, monitoring and maintenance of records.

The objective is not merely to issue fresh certificates but to establish an updated and verified database of qualified valuers who are authorised to undertake valuation assignments under the Income Tax Act.

Transition of Existing Registered Valuers

One of the most significant features of the Income Tax Rules, 2026 is the provision relating to professionals who already possessed valid registration under the earlier law.

The Rules recognise that existing valuers should not be unnecessarily subjected to an entirely fresh registration process. Instead, they are required to complete the prescribed transition formalities within the stipulated period so that their existing status is appropriately recognised under the new Act.

However, this transition is not entirely automatic. Existing valuers must actively comply with the procedural requirements prescribed under the Rules.

Filing of Application under Section 514

Members should clearly understand that the filing of the prescribed application is a statutory requirement.

The application is intended to update the records of the competent authority and facilitate the grant of registration under the provisions of the new Act.

Failure to submit the application in the prescribed manner or omission of required documents may result in delay in processing or the requirement to submit a fresh application after rectifying deficiencies.

Accordingly, members should ensure that every application is:

filed in the prescribed form;
supported by all required documents;
complete in every respect;
submitted within the prescribed timeline; and
signed and authenticated in accordance with the Rules.

Even minor procedural deficiencies may delay approval and therefore deserve careful attention.

Importance of Correct Documentation

Experience under various regulatory frameworks has consistently shown that applications are often delayed due to incomplete documentation rather than lack of eligibility.

Members should therefore carefully verify:

identity documents;
proof of existing registration;
educational qualifications;
professional credentials;
address proof;
declarations and undertakings; and
any additional documents prescribed under the Rules.

Maintaining properly indexed and self-attested records will considerably reduce the possibility of objections during scrutiny.

Existing Rule 34AB Valuers Should Act Promptly

The Council advises all members who were recognised under the earlier Rule 34AB framework not to assume that their earlier registration alone will automatically fulfil all statutory requirements under the Income Tax Act, 2025.

The new Rules contemplate compliance with the transition procedure within the prescribed time frame.

Waiting until the last date may create unnecessary difficulties, particularly if any deficiency is noticed in the application or additional documents are called for by the competent authority.

Early compliance is therefore strongly recommended.

Need for Uniform Interpretation

Since the Income Tax Act, 2025 and the Income Tax Rules, 2026 introduce an entirely new regulatory framework, several practical issues are naturally arising among professionals across the country.

Some of the commonly discussed issues include:

eligibility of existing registered valuers;
exact nature of the transition process;
documentation requirements;
treatment of applications containing deficiencies;
timelines for approval;
validity of existing registrations during transition; and
procedural compliance expected from valuers.

Uniform clarification from the tax administration would help ensure consistency in implementation throughout the country.

CEV’s Initiative

The Council of Engineers & Valuers has initiated steps to obtain comprehensive clarifications from the competent authorities on various procedural aspects relating to registration under Section 514.

The objective is to ensure that every member receives authentic guidance based upon the statutory provisions and official clarifications, thereby avoiding uncertainty and inconsistent practices.

Upon receipt of further clarifications from the concerned authorities, the Council proposes to circulate detailed guidance notes, FAQs, compliance checklists and educational material for the benefit of members.

Advisory to Members

Until comprehensive clarifications are issued, members are advised to:

Carefully study the provisions of the Income Tax Act, 2025 and the Income Tax Rules, 2026.
Review their existing registration records and supporting documents.
Maintain complete digital and physical records of all applications and correspondence.
Ensure timely submission of applications in the prescribed manner.
Avoid relying on unofficial interpretations or social media discussions.
Follow only authentic communications issued by the competent authorities.
Remain connected with the Council of Engineers & Valuers for verified updates and professional guidance.

Editorial Note

The transition from the earlier registration framework to the new regime under Section 514 of the Income Tax Act, 2025 represents an important milestone in the professional regulation of valuers in India.

While the new framework promises greater transparency, standardisation and regulatory certainty, successful implementation depends upon timely compliance by professionals and clear procedural guidance from the authorities.

The Council of Engineers & Valuers remains committed to assisting every member during this transition. Through continuous engagement with the Government and dissemination of authentic professional guidance, the Council aims to ensure that every eligible valuer successfully migrates to the new statutory framework without procedural difficulty.

Prepared by:
Research & Policy Cell
Council of Engineers & Valuers

Advisory to Council (CEV) Members

The Council of Engineers & Valuers urges all its members engaged in valuation practice to immediately review their compliance status under the new Income Tax provisions. It is advisable to consult updated guidelines, seek expert assistance if required, and ensure that applications are filed correctly and within time.

This development underscores the increasing regulatory scrutiny and the need for professional diligence in maintaining valid credentials in the valuation domain.

For further updates and expert guidance, members are encouraged to stay connected with professional forums and regulatory advisories issued from time to time.