Standing Order No. 4786/2015 of the Finance Department, Government of Assam dated 18th May, 2015 on the valuation of assets for the purposes of tax [C1B-1TE]

Standing Order No. 4786/2015

GOVERNMENT OF ASSAM

Finance Department, Government of Assam

Dispur, dated the 18th May, 2015

STANDING ORDER

To

All Assessing Officers,

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 Finance 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 10 to the Dispute Resolution Panel within sixty days, accompanied by a fee of five hundred rupees.

3. The Assessing Officer shall ensure that statement of tax deducted is dealt with as directed above, and shall report compliance to the Dispute Resolution Panel within sixty days.

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

(Secretary to Government)