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Part A : DIRECT TAXES
39 Wealth Tax (First Amendment) Rules, 2009
— Notification No. 15/2009/F.No.149/144/2008-TPL, dated 30-1-2009.
The CBDT has substituted Rule 8C of the Wealth Tax Rules,
1957 which prescribe the scale of fees to be charged by a valuer for valuation
of any asset for wealth tax purposes with effect from 1st April 2009. The
changes are summarised in the table below :
|
Pre-amended version |
|
| On the first Rs.50,000 of the asset as valued |
2 % of the value |
| On the next Rs.1 lakh of the asset as valued |
3 % of the value |
| On the balance of the asset as valued |
c % of the value |
| On the first Rs.5,00,000 of the asset as valued |
2 % of the value |
| On the next Rs.10 lakhs of the asset as valued |
2 % of the value |
| On the next Rs.40 lakhs of the asset as valued |
2 % of the value |
| On the balance of the asset as valued |
2 % of the value |
Further when two or more assets of an assessee are to be
valued by the valuer, then they would constitute single asset for calculating
the aforementioned fees. The minimum fees prescribed are Rs.500.
