NO EXAMS FOR ALL PRACTICING VALUERS REGISTERED UNDER SECTION 34AB OF WEALTH TAX ACT
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The requirement for registration under Section 34AB of Wealth tax act requires eten years experience for Graduate Engineers and two Years experience in Post Graduate in Valuation to become a Registered Valuer.How ever Under Section 247 of Companies Act 2013 requires all Valuers to under go training and pass examination conducted by IBBI to become a Registered Valuer.This discrimination leading to exam is causing lot of inconvenience and hard ship to more than 25000 Practicing Valuers in the Country.How ever it is noted that IBBI requires only Five Years experience for Graduates and three years for Post Graduate.Hence all the existing Practicing Valuers are more qualified and experienced and this doesn't have any purpose to have exams and test their Knowledge. There are Various Continuous education Programs in the form of Seminars, Work Shops in various parts of the Country by different Valuer Organisation.So we Welcome new Regulations in the Act for the Welfare of the Society to meet the various Challenges in the present Scenario.It is our humble request that the new Rule should be applicable to only those who are new comers.There are many precedents like when IRDA has been formed all the existing practicing Surveyors have become automatically became member in the new regulation.We have lot of faith and regards in your leadership and hope to get positive response from your Ministry.
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