VALUER WORLD

HOW TO BECOME A VALUER UNDER DIFFERENT ACTS OF THE COUNTRY?

QUESTION & OPINION

– B. Kanaga Sabapathy 28.01.2022

Question:

I am a Civil Engineer. Whether I am eligible to become a Registered Valuer for

1. Wealth Tax Act, 1957
2. Companies Act, 2013
3. Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
4. Prevention of Money Laundering Act, 2002
5. Enemy Property Act, 1968

Opinion:

1. If you are a B.E. / B.Tech graduate in Civil Engineering with 10 (Ten) years of experience or a Post Graduate in Valuation of real estate (from a recognized university) with 2 (Two) years of experience, you are eligible to apply as Registered Valuer under section 34AB of Wealth Tax Act, 1957.

There is no need to write any examination.

2. If you are a B.E. / B.Tech graduate in Civil Engineering with 5 (Five) years of experience in the valuation and if you have passed the examination conducted by the Insolvency and Bankruptcy Board of India (IBBI) you are eligible to become a Registered Valuer under rule 3 of the Companies (Registered Valuers and Valuation) Rules, 2017.

3. If you are already a Registered Valuer under section 34AB of Wealth Tax Act, 1957, you are eligible to apply for Registration as Valuer under section 77(1) of Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

4. There is no exclusive Registration of Valuers under the Prevention of Money Laundering Act, 2002.

5. There is no exclusive Registration of Valuers under the Enemy Property Act, 1968.

(Opinion by Mr. K. Divakar, Coimbatore)

error: Content is protected !!
Scroll to Top