Charging of fee and submission of valuation report under section 514

Charging of fee and submission of valuation report under section 514.

248. (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:—

(a) 1/2% of the value;

(b) 1/5% of the value;

(c) 1/10% of the value; and

(d) 1/20% 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. 5000, the registered valuer may charge Rs. 5000 as his fees.

(4) The report of valuation by a registered valuer in respect of any asset under section 514(3), shall be in the Form No. 170.