Section 34AB - Registration of valuers - Wealth Tax Act, 1957

Registration of valuers. 34AB. (1) The 1 [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 regis tered under sub-section (2) as valuers. (2) Any person who possesses the qualifications prescribed 2 in this behalf may apply to the 3 [Chief Commission er or Director General] in the prescribed form 4 for being registered as a valuer under this section: Provided that different qualifications may be prescribed for valuers of different classes of assets. 5 (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. 6 (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. ----------------------- Notes:- 1. Substituted vide Finance Act, 1988, w.e.f. 1-6-1988. Before it was read as:- "Board" 2. See rule 8A. 3. Substituted vide Finance Act, 1988, w.e.f. 1-6-1988. Before it was read as:- "Board" 4. See rule 8B and Form N. 5. See rule 8C. 6. See rule 8D and Forms O-1 , O-2 , O-3 , O-4 , O-5 , O-6 , O-7 , O-8 , O-8A , O-9 , and O-10 .