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https://www.pathlegal.in/Valuation-of-Assets-under-Wealth-Tax-Act-,1957---blog-1258800
Valuation of Assets under Wealth Tax Act,1957 Section 7 (1): Valuation of assets other than cash shall be determined in the manner laid down in schedule III of the wealth Tax Act.
https://www.legalcrystal.com/act/12416/wealth-tax-act-1957-section-5
Wealth-tax Act, 1957 Section 5 - Bare Act ... value of any jewellery on the date of the withdrawal of the recognition in respect thereof shall be deemed to be the fair market value of such jewellery on each successive valuation date relevant for the assessment years referred to in the said proviso: Provided further that the aggregate amount of ...
https://indiankanoon.org/doc/126638/
Section 5 in THE WEALTH-TAX ACT, 1957. ... recognition in respect thereof shall be deemed to be the fair market value of such jewellery on each successive valuation date relevant for the assessment years referred to in the said proviso: Provided further that the aggregate amount of wealth tax payable in respect of any jewellery under ...
https://www.latestlaws.com/bare-acts/central-acts-rules/direct-tax-laws/the-wealth-tax-act-1957/wealth-tax-exemption-of-heirloom-jewellery-of-rulers-rules-1958/
- In exercise of the powers conferred by clause (xiv) of sub-section (1) of Section 5 of the Wealth-tax Act, 1957 (27 of 1957), the Central Government hereby makes the following rules subject to which the [Central Board of Direct Taxes] may recognise certain jewellery of Rulers as their heirloom for purposes of exemption from wealth-tax under ...
https://taxguru.in/income-tax/applicability-wealth-tax-making-charges-jewellery.html
Section 7 of the Wealth tax Act, 1957 provides for ‘Value of assets, ... he may refer the valuation of such jewellery to a Valuation Officer under sub-section (1) of the said section and the value of such jewellery shall be the fair market value as estimated by the Valuation Officer.]
https://www.indiacode.nic.in/bitstream/123456789/3123/1/a1957-27.pdf
7 THE WEALTH-TAX ACT, 1957 ACT NO.27 OF 19571 [12thSeptember, 1957.] An Act to provide for the levy of wealth-tax. BE it enacted by Parliament in the Eighth Year of the Republic of India as follows:— CHAPTER I PRELIMINARY 1. Short title, extent and commencement.—(1) This Act may be called the Wealth-tax Act, 1957. (2) It extends to the whole of India.
https://www.caclubindia.com/forum/valuation-of-assets-under-wealth-tax-act-1957-60124.asp
May 14, 2013 · VALUATION OF ASSETS UNDER WEALTH TAX ACT, 1957 Section 7 (1): Valuation of assets other than cash shall be determined in the manner laid down in schedule III of the wealth Tax Act. Before moving ahead first let’s see the assets which fall under the definition of assets as per section 2 (ea) and shall be included in the wealth of a person.
http://www.miraajassociates.com/rules/Wealth%20Tax%20Rules%201957.pdf
WEALTH-TAX RULES, 1957 (SRO 3384, Dated. 18-10- 1957) In exercise of the powers conferred by section 46 of the Wealth-tax Act. ]957 (27 of 1957), the Central Board of Revenue hereby makes the following rules, namely:-- 1.- Short title and commencement. (1) These rules may be called the Wealth-tax Rules, 1957.
https://www.lawyersclubindia.com/experts/valuation-of-jewellary-under-wealth-tax-47681.asp
Nov 13, 2009 · 13 November 2009 The value of the jewellery shall be estimated to be the price it would fetch if sold in open market on the valuation date, further the return of net wealth as furnished by assessee must be supported by: i) A statement in the prescribed form (MOSA) where the value of the jewellery on the valuation dates does not exceed Rs. 5 Lac.
https://www.caclubindia.com/experts/limit-of-exemption-for-an-assessee-to-keep-jewellery--835650.asp
(ii) In the case of a 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 …
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