Standing Order No. 812/2020 of the Environment Department, Government of Assam dated 22nd December, 2020 on the valuation of assets for the purposes of tax [C13-V7W]

Standing Order No. 812/2020

GOVERNMENT OF ASSAM

Environment Department, Government of Assam

Dispur, dated the 22nd December, 2020

STANDING ORDER

To

All Inspectors of Income-tax,

Subject: The valuation of assets for the purposes of tax by registered valuers under the Assam Agricultural Income-tax Act, 1939, regarding.

In exercise of the powers conferred by section 9 of the Assam Agricultural Income-tax Act, 1939 (Assam Act 9 of 1939), the Environment Department, Government of Assam hereby issues the following Standing Order for the guidance of all officers subordinate to it:

1. References have been received seeking clarification on the manner in which section 9 applies to the valuation of assets for the purposes of tax by registered valuers.

2. The matter has been examined. Every registered valuer carrying on the valuation of assets for the purposes of tax shall make an application in Form 16 to the Dispute Resolution Panel within twenty-one days, accompanied by a fee of five thousand rupees.

3. The Inspector of Income-tax shall ensure that demand notice is dealt with as directed above, and shall report compliance to the Dispute Resolution Panel within twenty-one days.

4. Difficulties, if any, in the implementation of this standing order may be brought to the notice of the Environment Department, Government of Assam.

(Secretary to Government)