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Section 34AB: Registration of valuers

The Wealth-Tax Act, 1957Central Act · Act 27 of 1957

Registration of valuers.

(1) The [Chief Commissioner or Director General] shall maintain a register to be called the Register of Valuers in which shall be entered the names and addresses of persons registered under sub-section (2) as valuers.

(2) Any person who possesses the qualifications prescribed in this behalf may apply to the [Chief Commissioner or Director General] in the prescribed form for being registered as a valuer under this section:

Provided that different qualifications may be prescribed for valuers of different classes of assets.

(3) Every application under sub-section (2) shall be verified in the prescribed manner, shall be accompanied by such fees as may be prescribed and shall contain a declaration to the effect that the applicant will—

(i) make an impartial and true valuation of any asset which he may be required to value;

(ii) furnish a report of such valuation in the prescribed form;

(iii) charge fees at a rate not exceeding the rate or rates prescribed in this behalf;

(iv) not undertake valuation of any asset in which he has a direct or indirect interest.

(4) The report of valuation of any asset by a registered valuer shall be in the prescribed form and be verified in the prescribed manner.

Where this provision sits

ActThe Wealth-Tax Act, 1957
Section34AB
Marginal noteRegistration of valuers
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted. Substituted for "Board" by the Finance Act, 1988, w.e.f. 1-6-1988.
  • other. See rule 8A.
  • substituted. Substituted for "Board" by the Finance Act, 1988, w.e.f. 1-6-1988.
  • other. See rule 8B and Form N.
  • other. See rule 8C.
  • other. See rule 8D and Forms O-1 to O-10.

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