Rule 6
Valuation Of Wealth And Assessment Of Wealth Tax
6. Valuation of wealth and assessment of wealth tax :
(1) After receiving the statement of house and land of any taxpayer pursuant to Rule 3, the Tax Officer shall valuate such house and land in accordance with Schedule (G) as per the valuation list published by Government of Nepal pursuant to sub-rule (3) of Rule 5. Provided that, in valuating any house and land sold and purchased upon registering the transfer deed, if the figure of the value indicated in the registered deed be higher than the valuation figure as referred to in Sub-rule (1), the valuation figure mentioned in the registered deed shall be taken as maintained authentic.
(2) The wealth Tax Officer shall, in valuating foreign investment, valuate foreign investment as referred to in Schedule (H) on the basis of the market value and rental value submitted by the taxpayer by getting the value certified by making correspondence with the concerned country about such values, if required.
(3) After the Wealth Tax Officer has valuated any house and land pursuant to sub-rule (1) or any foreign investment pursuant to Subrule (2), he/she shall assess the figure of the wealth tax as per that valuation. The wealth tax assessment order has to indicate brief description on how the wealth tax has been assessed.
(1) After receiving the statement of house and land of any taxpayer pursuant to Rule 3, the Tax Officer shall valuate such house and land in accordance with Schedule (G) as per the valuation list published by Government of Nepal pursuant to sub-rule (3) of Rule 5. Provided that, in valuating any house and land sold and purchased upon registering the transfer deed, if the figure of the value indicated in the registered deed be higher than the valuation figure as referred to in Sub-rule (1), the valuation figure mentioned in the registered deed shall be taken as maintained authentic.
(2) The wealth Tax Officer shall, in valuating foreign investment, valuate foreign investment as referred to in Schedule (H) on the basis of the market value and rental value submitted by the taxpayer by getting the value certified by making correspondence with the concerned country about such values, if required.
(3) After the Wealth Tax Officer has valuated any house and land pursuant to sub-rule (1) or any foreign investment pursuant to Subrule (2), he/she shall assess the figure of the wealth tax as per that valuation. The wealth tax assessment order has to indicate brief description on how the wealth tax has been assessed.