The process of applying for registration as a valuer under section 34AB of the Wealth-tax Act, 1957, is outlined meticulously in the 34 Ab form. This crucial document serves as a gateway for professionals aiming to be recognized officially for their expertise in valuing certain classes of assets. Applicants are required to provide comprehensive personal and professional details, including their full name, contact information, and Permanent Account Number. Furthermore, proof of age, educational and professional qualifications, alongside original certificates, must be submitted for verification. The form also mandates detailing any membership in professional or technical institutions, current occupation, and if already practicing as a valuer, to disclose the relevant partnership details. Experience in the field is underscored, with applicants asked to list assets valued or works executed in the recent three years. Additionally, character and reputation come under scrutiny, with the requirement of references from individuals familiar with the applicant's professional conduct. Any outstanding liabilities towards taxes, past convictions, or professional misconduct must be honestly declared to ensure the integrity of the application process. The solemn declaration at the end of the form emphasizes the applicant's commitment to ethical practices and impartial valuations. Accompanied by a nominal fee, the thorough submission of this form paves the way for individuals to contribute their valuation expertise in a legal capacity, underscoring their role within the wealth management ecosystem.
| Question | Answer |
|---|---|
| Form Name | 34 Ab Form |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | registration as a valuer under section 34ab of the wealth tax act 1957, wealth tax registration, registration as a valuer under section 34ab, valuer registration challan |
FORM N
[See rule 8B]
Application for registration as a valuer under section 34AB of the
To
Chief Commissioner/Director
General,
Sir,
I hereby apply for registration as a valuer of ______ [class of assets] under section 34AB of the
1957. The following particulars are furnished herewith :-
1.Name in full (block letters)
2.Father’s/husband’s name
3.Permanent address
4.Present address :
(i)Office
(ii)Residence
5.
6.Date of birth [Proof of age to be sent in original with a true copy thereof. The original will be returned after perusal]
7.Educational qualifications, including professional or technical qualifications [Enclose original degree or diploma certificates together with attested copy of each. The originals will be returned after perusal]
8.If member of any professional or technical institution, give particulars
9.(a) Present occupation
(b)If a partner of a firm, name, address and business/ profession of the firm
10.If already engaged in the profession or calling of a valuer, whether-
(a)on your own behalf
(b)in partnership with others [Give name and address of other partners]
11.Date of commencement of practice as a valuer
12.Give full details of your experience which qualifies you for registration as a valuer. A list of assets valued or works executed during the last three years should be enclosed
13.Whether you have been appointed as valuer under section 4 of the Estate Duty Act, 1953? If so, give date of notification
14.Name, occupation and address of three persons (not being relatives or business partners) with whom you have had regular contract over the last five years (one of whom should preferably be a valuer) and of whom you authorise the Chief Commissioner or the Director General to enquire regarding your reputation and character.
15.(a) State, if any, liability towards
(b)If so, whether satisfactory arrangements for payments thereof have been made
[Attach certificate from the Assessing Officer]
16.Whether you have been convicted of any offence and sentenced to a term of imprisonment? If so, give details of offence and sentence
17.Whether you have been found guilty of misconduct in your professional capacity? If so, give details
RUSHABH
I hereby declare that I am not disqualified from applying for registration by reason of any of the provisions contained in clauses (a) to (c) of
I further declare that I shall-
(a)make an impartial and true valuation of any asset which I may be required to value;
(b)furnish the report of such valuation in the prescribed form;
(c)charge fees at a rate not exceeding the rate or rates prescribed by the Board in this behalf; and
(d)not undertake any valuation of any asset in which I have a direct or indirect interest.
Signature
Verification
I,____________ [name in block letters], do declare-
(i)that what is stated in the above application is true and correct to the best of my knowledge and belief, and
(ii)that the documents sent herewith are the originals or true copies thereof.
Place
Date |
Signature |
List of enclosures : |
|
Notes:
1.Please see rule 8A of the
2.This Form must be accompanied by a fee of Rs. 1, 000. It is suggested that the fee should be credited in a branch of the authorised bank or a branch of the State Bank of India or a branch of the Reserve Bank of India after obtaining a challan from the Assessing Officer. The receipted challan should be enclosed along with the application. The Central Board of Direct Taxes will not accept cheques, drafts, hundies, or other negotiable instruments
RUSHABH