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18. Valuation of jewellery. (1) 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://www.lawyersclubindia.com/experts/valuation-of-jewellary-under-wealth-tax-47681.asp
Nov 13, 2009 · Where the valuation of jewellery has been determined by valuation officer for any assessment year, then such valuation shall be adopted for susequent 4 assessment years subject to the following adjustments:(a) if jewellery include gold or silver then the market valude of gold, silver etc as on valuation date shall be substituted (b) Adjustment shall be made in respect of any acquistion or sale of jewellery during the priod. Wealth tax will be charged @ 1% on …
https://www.taxmanagementindia.com/visitor/detail_forms.asp?ID=621
O 8A Statement of valuation of jewellery Wealth tax. Tax Management India. Com Law and Practice: A Digital eBook ...
https://taxmasala.in/wealth-tax-calculation-easy-guide/
The value of jewellery under wealth tax rules shall be price which it would fetch if sold in open market. When the value of jewellery does not exceed Rs. 5,00,000, Form no. o-8A in prescribed form should be submitted to assessing officer.
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