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TMI BlogQualifications of registered valuersX X X X Extracts X X X X X X X X Extracts X X X X ..... m such employment after having rendered service for not less than 4[ten] years as a valuer, architect or town planner, or in the field of construction of buildings, designing of structures, or development of land; or (c) as a professor, reader or lecturer in a university, college or any other institution preparing students for a degree in civil engineering, architecture or town planning, or for 5[any qualification] referred to in clause (i), and must have retired or resigned from such employment after having taught for not less than 6[ten] years any of the subjects of valuation, quantity surveying, building construction, architecture, or town planning; OR 7[(B) he must have been in practice as a consulting engineer 8[,valuer of real estate], surveyor or architect for a period of not less than ten years and must have acquired experience in any of the following four fields :-- (a) valuation of buildings and urban lands; or (b) quantity surveying in building construction; or (c) architectural or structural designing of buildings or town planning; or (d) construction of buildings or development of land; and his gross receipts from such practice should not be less than fif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , rubber or, as the case may be, cardamom is extensively grown. (5) A valuer of forest must be a person formerly employed in a post under Government and must have retired or resigned from such employment after having rendered service for not less than five years in a gazetted post requiring specialised knowledge in forestry. (6) A valuer of mines and quarries shall have the following qualifications, namely:-- 10[(i) he must be a graduate in mining of a recognised university, or must possess a qualification recognised by the Central Government for recruitment to superior services or posts under the Central Government in the field of mining; and] (ii) he must be a person formerly employed-- (a) in a post under Government as a gazetted officer, or (b) in a post under any other employer carrying a remuneration of not less than Rs. 11[2,000] per month, and, in either case, must have retired or resigned from such employment after having rendered service as a mining engineer for not less than 12[ten] years. (7) A valuer of stocks, shares, debentures, securities, shares in partnership firms and of business assets, including goodwill but excluding those referred to in sub-rul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or for 26[any qualification] referred to in clause (i), and must have retired or resigned from such employment after having taught for a period of not less than 27[ten] years; or 28(B) he must have been in practice as a consulting engineer 29[or valuer of machinery and plant] for a period of not less than ten years and must have acquired experience in the valuation of machinery and plant and his gross receipts from such practice should not be less than fifty thousand rupees in any three of the five preceding years:] 30[Provided that in the case of a person, possessing a post-graduate degree in valuation of machinery and plant from a recognised university, the provisions of this sub-rule shall have effect as if,-- (a) for the words "ten years", the words "two years" had been substituted; (b) for the words "fifty thousand rupees in any three of five preceding years", the words "fifty thousand rupees in any one of the two preceding years" had been substituted.] 31[(9) A valuer of jewellery must have been, for a period of not less than five years, a sole proprietor or partner in a partnership firm carrying on jewellery business which has on an average an annual turnover of no ..... 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(18 of 1958), or a penalty has been imposed on him under clause (iii) of sub-section (1) of section 271 or clause (i) of section 273 of the Income-tax Act, 1961, or under clause (iii) of sub-section (1) of section 18 of the Wealth-tax Act, 1957, or under clause (iii) of sub-section (1) of section 17 of the Gift-tax Act, 1958; or (c) he is an undischarged insolvent; or 36[(d) he has been convicted of any offence and sentenced to a term of imprisonment; or (e) he has been found guilty of misconduct in his professional capacity,-- (i) in a case where he is a member of any association or institution established in India having as its object the control, supervision, regulation or encouragement of the profession of engineering, architecture, accountancy, or company secretaries or such other profession as the Board may specify in this behalf by notification in the Official Gazette, by such association or institution; or 37[(ii) in any other case, by the Chief Commissioner or the Director General in accordance with the procedure laid down in rule 8F and rules 8H to 8K, which in the opinion of the Chief Commissioner or the Director General, renders him unfit to be registered as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... law for the time being in force.] 41[Explanation 2.--Where the membership of any institution is recognised by the Central Government as a qualification for the purpose of recruitment to superior services or posts under the Central Government in any field, such membership shall not be regarded as a requisite qualification for the purposes of this rule, unless the membership has been granted on the basis of passing the examinations conducted by the institution.] ------------------------ Notes:- 1. Inserted vide Wealth-tax (Third Amendment) Rules, 1972, w.e.f. 15-11-1972. 2. Substituted vide Wealth-tax (First Amendment) Rules, 1995, w.e.f. 31-1-1995. Before substitution, clause (i) was substituted by the Wealth-tax (Amendment) Rules, 1977, w.e.f. 12-1-1977, read as under: "(i) he must either be a graduate in civil engineering, architecture or town planning of a recognised university, or possess a qualification recognised by the Central Government for recruitment to superior services or posts under the Central Government in the field of civil engineering, architecture or town planning; and" 3. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- "1,000" 21. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- "five" 22. Substituted vide Wealth-tax (First Amendment) Rules, 1997, w.e.f. 5-3-1997. Before substitution, clause (i), as substituted by the Wealth-tax (Amendment) Rules,1977, w.e.f.12-1-1977, read as under : "(i) he must either be a graduate in mechanical or electrical engineering of a recognised university, or possess a qualification recognised by the Central Government for recruitment to superior services or posts under the Central Government in the field of mechanical or electrical engineering; and". 23. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- "1,000" 24. Inserted vide Wealth-tax (First Amendment) Rules, 1997, w.e.f. 5-3-1997. 25. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- "five" 26. Substituted vide Wealth-tax (Amendment) Rules, 1977, w.e.f. 12-1-1977. 27. Substituted vide Wealth-tax (Second Amendment) Rules, 1988, w.e.f. 1-6-1988. Before it was read as:- "five" 28. S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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