Chartered Engineer Valuers

M Sc valuation vs Section 8A of WT Act

Let us know that M Sc Valuation course is illegal and is against the Section 8A of Wealth Tax act. And any law or Rule promulgated by a Government will be read in accordance with its intentions. That is the intent of the creation of a Rule is important while interpreting it. And by reading Section … Read more

Indemnity bond by Valuers of SBI

To, SBi, With reference to the proposed Indemnity bond to be executed by we Valuers we request you to reconsider the move and to dispense with the policy of taking of Indemnity Bond from us, engineer Valuers, Ref: 1. Your Circular No. SARG/ARC/03/2020-21 dt. 29.05.2020 2. Your Circular No. CCO/CPPD-ADV/49/2019-20 dt. 03.07.2019 3. … Read more

Indemnity Bond contradicts the Contract Act

Section 124 of the Indian Contract Act deals with Indemnity Bonds. And Sections 2,15,16 & 65 of the Act deals with Contract, Coercion, Undue Influence and redressal against victimization of a party against the other who acted contravening the provisions of this act. And Indian Contracts Act 1872 is the Law Governing the Contractual Obligations … Read more

Valuers’ Idemnity Bond

Imposition of Indemnity bond, IB, on engineer valuers and drastic reduction of fee for valuations run against the fundamental rights guarenteed under Articles 14,19,21 of the Constitution of India. And it is interesting to note that existing Panel valuers are not intimated individually about the notification by post or by mail. If one is ignorant … Read more

Section 8A of Wealth Tax Act

Section 8A of Wealth Tax Act 1957 states that only Engineering graduates are eligible for entering into the Field of Valuation of Immovable properties viz., Plant and Machinery and Land and Building. AICTE rules clearly state that only Science stream students are eligible to enter into to pursue Engineering or Architecture or Planning courses at … Read more

Engineer valuers

First of all we have to remember that we Chartered Engineers / technocrats have done our engineering studies after doing 10+2 system of schooling with science subjects at + 2 level. To join and pursue engineering studies at graduation level Science students at + 2 level are only eligible. At present we are learned engineers, now … Read more