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https://taxguru.in/income-tax/applicability-wealth-tax-making-charges-jewellery.html
CA Vidhan Surana & CA Sunil Maloo. Whether wealth tax leviable on the making charges of the jewellery? – A Detailed Analysis. Under the scheme of Wealth Tax in India, Wealth tax is levied on the net wealth of the every individual, Hindu undivided family and company as on the valuation date.
https://www.incometaxindia.gov.in/Acts/Wealth-Tax%20Act,%201957/102120000000026474.htm
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://valuersonline.com/jewellery-Valuation.html
Value of each precious or semi-precious stone and the total value of all such stones. Value of the precious metal content in all the items of jewellery. Total value of the jewellery. (The valuer should discuss the special features, if any, of the jewellery, such as, its antique value, aesthetic value, etc.)
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://taxguru.in/income-tax/rates-of-gold-and-silver-for-wealth-tax-valuation-purpose-along-with-valuation-rules.html
Apr 28, 2020 · On date 08/03/2014 today, i m doing calculation of wealth tax for AY 2013-2014. how can arrive the value of silver if i assessee have silver 15kg. show the …
https://www.caclubindia.com/forum/valuation-of-jewellery-for-wealth-tax-purpose-179446.asp
Nov 27, 2012 · and it is necessary every year to attach the report with wealth tax return And as per Circular No. 646, it has been decided that report of registered valuer obtained for one assessment year can also be used in subsequent ffour asst. yrs. subject to adjustments (i.e. relating to price relavent to valuation date and adjustment of purchases and sales)
https://cleartax.in/s/wealth-tax/
Nov 10, 2020 · The thumb rule is the resident Indians are subject to wealth tax on their global assets. However, NRI’s fall under the ambit of wealth tax for the assets held in India. 3. Charge on Wealth. If the total net wealth of an individual, HUF or company exceeds Rs. 30 lakhs, on the valuation date, tax @1% will be leviable on the amount in
https://www.caclubindia.com/forum/valuation-of-assets-under-wealth-tax-act-1957-60124.asp
May 14, 2013 · The value of the jewellery shall be fair market value in the openmarket on the valuation date. ●A statement in the prescribed form shall be furnished by the assessee along with return of income where the value of the jewellery on the valuation date does not exceed Rs.5 lakhs.
https://www.caclubindia.com/experts/limit-of-exemption-for-an-assessee-to-keep-jewellery--835650.asp
“ (ii) A perusal of the above circular shows that in case of 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 member of the family need not be seized.
https://incometaxindia.gov.in/Rules/Wealth-Tax%20Rules,%201957/2010/103120000000006873.htm
(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 …
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