sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« News Headlines »
 Five ways to e-verify your ITR
 Notification No.93/2018 - Customs (N.T.) Central Board Of Indirect Taxes And Customs
 Now don’t forget to file your income tax return Paid TDS?
 National Financial Reporting Authority Rules, 2018
 Jindal Metal Co. Vs. Principal Commissioner Of Income Tax, Delhi-21
 Goods And Service Tax (Gst) Concept & Status As On 1st November, 2018
 Notification No. 91 /2018-Customs (N.T.) Central Board of Indirect Taxes and Customs
 Top 5 must-knows for education loan tax deduction
 Notification No.90/2018 - Customs (N.T.) Central Board Of Indirect Taxes And Customs
 The Central Goods And Services Tax (Amendment) Bill, 2018
 New Forms for making an application under section 197 and/or section 206C of the Income-tax Act, 1961

Income tax dept publishes list of asset valuers
June, 24th 2016

The Income Tax department today published a country-wide list of registered asset valuers for those who wish to declare their untaxed funds and properties under the one-time domestic black money compliance window that opened this month.

The exhaustive list, uploaded on the official web portal of the department, includes valuers of immovable property, jewellery, plant and machinery, stocks, shares and debentures and agricultural land.

"The list is uploaded on Income Tax department's official website www.incometaxindia.gov.in and the names and addresses provided therein can be used by those who wish to declare their black assets under the ongoing one-time compliance window.

"This exhaustive list that contains the names and addresses of the registered valuers has been published after CBDT had received queries from various quarters about the ambiguity and difficulty in declaring the value of an untaxed or black asset under the window, called the Income Declaration Scheme (IDS), 2016," a senior official said.

While rules for IDS stipulate that the fair market value of the asset to be declared under the scheme will be as on June 1, 2016 as deemed to be the undisclosed income, its exact valuation procedure was creating doubts among people.

Subsequently, the official said, the Central Board of Direct Taxes had asked all regional offices in the country to send to it the names of all registered valuers and their contacts in their jurisdiction.

"The list is exhaustive and these valuers are present in various part of the country. The valuation certificate provided by them will be valid for declaration of untaxed assets under the IDS. This is an effort to help and provide clarity of action to such declarants," the official added.

Valuers are registered with the IT department under the Wealth Tax Rules.

The official added that the list will soon be put up at the regional Aaykar Sampark Kendras (ASKs) which are run by the department to facilitate taxpayer services.

A valuation of asset done by an authorised valuer is accepted as the fair value of an asset by the taxman and with this seal of approval, the declarant is expected to be sure about the market value of the asset furnished under IDS.

The IDS opened this month and will be on to take declarations till September 30.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions