§ 514
Chapter XXIII — Miscellaneous
Registration of valuers
Income-tax Act, 2025
The tax authority must keep a register of all persons who are officially registered as valuers. Anyone who meets the prescribed qualifications for a particular class of assets can apply to be entered in this register by submitting a verified application, paying the required fee, and signing a declaration to provide unbiased valuations, use the standard report format, charge only the prescribed fees, and avoid valuing assets in which they have any interest.
- Registered valuers must follow the prescribed form and verification process for valuation reports.
- Fees charged by valuers cannot exceed rates set by the authority.
📜 Official text of the section +
514. (1) The Principal Chief Commissioner or Chief Commissioner, or the
Principal Director General or Director General, shall maintain a register of
valuers in which the names and addresses of persons registered under sub-section
(2) shall be entered.
(2) Any person, possessing such qualification for valuing such class of assets, as may
be prescribed, may apply to the Principal Chief Commissioner or Chief Commis -
sioner, or the Principal Director General or Director General, for getting registered
as a valuer, in such form, verified in such manner and accompanied by such fee, as
may be prescribed, along with a declaration stating that the applicant will––
( a) conduct an impartial and true valuation of any asset required to be val-
ued;
( b) furnish a valuation report in the prescribed form;
( c) charge fees not exceeding the prescribed rate or rates; and
( d) refrain from undertaking the valuation of any asset in which such person
has a direct or indirect interest.
(3) The valuation report prepared by a registered valuer for any asset shall be in
such form and verified in such manner, as may be prescribed.
Appearance by authorised representative.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.
Related sections
§ 499Certain transfers to be void§ 500Provisional attachment to protect revenue in certain cases§ 501Director or Director. Service of notice, generally§ 502Authentication of notices and other documents§ 503Service of notice when family is disrupted or firm etc., is dissolved§ 504Service of notice in case of discontinued business