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ersenthilraj



Joined: 30 Aug 2008
Posts: 33

PostPosted: Wed Mar 04, 2009 10:54 pm    Post subject: Term Approved Valuer Reply with quote

I S.Senthilraj Elected as Associate of instituion of Valuers, New Delhi,(A-16185), And Awarded Approved Valuer, Can i Use this as a Suffix or Not because i am not Registered with CBDT( U/S 34AB Wealth Tax Act 1957)

 

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hitesh



Joined: 19 Sep 2008
Posts: 112

PostPosted: Thu Mar 05, 2009 7:50 am    Post subject: Reply with quote

You are approved valuer of Institution of Valuers. The person registered under section 34AB of Wealth tax act is a Govt Approved Valuer or Govt registered valuer.

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garvaibhav



Joined: 30 Aug 2008
Posts: 10

PostPosted: Sat May 23, 2009 5:59 pm    Post subject: Approved Valuer Reply with quote

After getting Approved Valuer certificate from IoV, one can suffix Approved Valuer with his name irrespective of his/her status as AIV/FIV.

The valuers registered u/s34AB of wealth tax are supposed to put Registered Valuer with their name.

 

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abhijit_sane



Joined: 30 Aug 2008
Posts: 3

PostPosted: Thu Jul 09, 2009 5:59 pm    Post subject: I agree with Hitesh Reply with quote

Hitesh has correctly pointed out that the term "Approved Valuer" can be used but you cannot use the word "Government Registerd Valuer" or "Registered Valuer"

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suchdevs



Joined: 30 Aug 2008
Posts: 99

PostPosted: Fri Jul 10, 2009 10:02 am    Post subject: Reply with quote

there being no legislation (in india) on the practice of valuation (so far), things are ambiguous. above observations are absolutely correct, but do not have legislative approval of the same.

most banks require valuers to be registered with IT dept u/s 34AB of the wealth tax act, to empanel them, while the RBI circular is very clear in stating that the valuers should be meeting the general requirements as laid down for registration of valuers u/s 34 AB (meaning it is not required that the valuer be registered u/s 34AB)

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djagan1949



Joined: 07 Jan 2009
Posts: 160

PostPosted: Fri Jul 10, 2009 8:16 pm    Post subject: Usage of Term " Approved Valuer " Reply with quote

 

 

Term Approved Valuer :

 

 

This is conferred by a Professional Body ; conglameration of and managed by group of highly experienced valuers . This is to project you to the prospective value seekers that dependable service can be provided. This is also a primary requisite for obtaining Govt Regn under Income-Tax Act. This is  non statutory by nature.

 

Government Registered Valuer :

 

Approved valuers will only be considered for Registration under Income-Tax Act. This is a stautory status and cannot be used unless specifically recognised so.

                                                                                                                                                                                                                                                                                                    djagan1949

 

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accurate



Joined: 01 Dec 2009
Posts: 1

PostPosted: Tue Dec 01, 2009 2:16 pm    Post subject: Re: Term Approved Valuer Reply with quote

Actually, no one in India can claim that he is a "Government Approved Valuer". Yet, everyone desires to engage services of a "Government Approved Valuer" and therefore, to satisfy the clients, everyone who is enlisted or empanelled with various Government Departments, states that, he / she is "Government Approved Valuer"

 

There are three levels of governments in India i.e. Central Government, State Government and Local Self Government.

All these Government levels solicit the services of valuers for one or the other reason and many of them are maintaining a register of valuers with them for specific purpose or a panel of valuers from which a particular one can be called upon to undertake their assignments.

Nevertheless, because institutions, organisations or individual are not properly informed on this point, the valuers who are merely registered or empanelled  remain free to misguide the people by claiming that they are the so-called ‘Government Approved Valuers’ . This has created a wrong impression everywhere that, there is a separate superior category of valuers who have obtained approval of their status from Government authorities. This is totally erroneous. No one is a Government Approved Valuer.

 

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djagan1949



Joined: 07 Jan 2009
Posts: 160

PostPosted: Tue Dec 01, 2009 2:27 pm    Post subject: Term Approved Valuer Reply with quote

accurate ji,

Those valuers empalled by CBDT by Central Govt , Ministry Of Finance are definitely and undoubtadly Govt approved valuers .

There is no misguiding or impersonation involved .

                                                                                                                                                                                       djagan1949

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