Rule 246 sets how to apply for registration as a valuer under section 514 — Form No. 169 with a non-refundable fee of Rs. 10,000 — and the transitional rules for pending applications and for valuers already registered under the Wealth-tax Act, 1957, who must update their details by 30 September 2026, and for the examination requirement.
246
Rules 2026 · Rule 246
Application for registration as valuer under section 514
Rules 201-260
Application (sub-rule 1). In Form No. 169, verified as the form specifies, with a non-refundable fee of Rs. 10,000.
Transition (sub-rules 2 to 5). An application pending immediately before 1 April 2026 is treated as filed under this rule and needs no further fee. A person who becomes ineligible because of the qualifications in rule 247 gets the fee refunded on application. A person registered as a valuer under the Wealth-tax Act, 1957 with a valid certificate on 31 March 2026 continues to be a registered valuer under section 514 but must update details by filing the application by 30 September 2026 (without a fee), and on a complete application registration is granted.
Examination (sub-rules 6 and 7). A registered valuer must qualify in an examination within the period the Central Government specifies by notification; if the valuer fails to qualify within it, registration stands cancelled from the end of that period.