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Rule 8C - Scale of fees to be charged by a registered valuer - Wealth Tax Rules, 1957Extract 1 [Scale of fees to be charged by a registered valuer. 8C. (1) Subject to the provisions of sub-rules (2) and (3), the lees to be charged by a registered valuer for valuation of any asset shall not exceed the amount calculated at the following rates, namely : (a) On the first Rs.5.00.000 of the asset as valued 1 / 2 per cent of the value; (b) On the next Rs. 10 lakhs of the asset as valued 1 / 5 per cent of the value; (c) On the next Rs.40 lakhs of the asset as valued 1 / 10 per cent of the value; (d) On the balance of the asset as valued 1 / 20 per cent of the value. (2) Where two or more assets are required to be valued by a registered valuer at the instance of an assessee all such assets shall be deemed to constitute, a single asset for the purposes of calculating the fees payable to such, registered valuer. (3) Where the amount of fees calculated in accordance with sub-rules (1) and (2) is less than Rs.500, the registered valuer may charge Rs.500 as his fees.] *************** Notes: 1. Substituted vide NOTIFICATION NO. 15/2009, DATED 30-1-2009 Wealth-tax (First Amendment) Rules, 2009. , before it was read as under: before substitution, rule 8C , as inserted by the Wealth-tax (Third Amendment) Rules, 1972, w.e.f. 15-11-1972, read as under : [ Scale of fees to be charged by a registered valuer. 8C . (1) Subject to the provisions of sub-rules (2) and (3), the fees to be charged by a registered valuer for valuation of any asset shall not exceed the amount calculated at the following rates, namely: On the first Rs. 50,000 of the asset as valued 1 / 2 per cent of the value; On the next Rs. 1 lakh of the asset as valued 1 / 4 per cent of the value; On the balance of the asset as valued 1 / 8 per cent of the value. (2) Where two or more assets are required to be valued by a registered valuer at the instance of an assessee, all such assets shall be deemed to constitute a single asset for the purposes of calculating the fees payable to such registered valuer. (3) Where the amount of fees calculated in accordance with sub-rules (1) and (2) is less than Rs. 50, the registered valuer may charge Rs. 50 as his fees.]
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