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https://www.incometaxindia.gov.in/Acts/Wealth-Tax%20Act,%201957/102120000000026474.htm
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 …
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.caclubindia.com/forum/valuation-of-assets-under-wealth-tax-act-1957-60124.asp
May 14, 2013 · The value of the jewellery shall be fair market value in the openmarket on the valuation date. ●A statement in the prescribed form shall be furnished by the assessee along with return of income where the value of the jewellery on the valuation date does not exceed Rs.5 lakhs.
https://taxguru.in/income-tax/gold-silver-rates-urrent-ten-assessment-years-april-1-1981.html
Oct 15, 2019 · Valuation of Jewellery Under erstwhile Wealth Tax Act Provisions Rules 18 and 19 which provide the manner in which valuation of jewellery is to be determined. 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.
https://www.taxact.co.in/valuation-of-assets-as-per-the-wealth-tax-act/
Jan 31, 2015 · Valuation of jewellery – The value of jewellery shall be estimated to be the price which it would fetch if sold in the open market on the valuation date (i.e., fair market value). Where the value of jewellery does not exceed Rs. 5,00,000, a statement in Form No. O-8A is to be submitted.
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