248. Charging of fee and submission of valuation report under section 514.—

(1) Subject to the provisions of sub-rules (2) and (3), the fees to be charged by a registered valuer for valuation of any asset shall not exceed the amount calculated at the following rates:––

(a) on the first Rs. 500000 of the asset as valued 1/2 % of the value;

(b) on the next ten lakhs rupees of the asset as valued 1/5 % of the value;

(c) on the next forty lakhs rupees of the asset as valued 1/10 % of the value; and

(d) on the balance of the asset as valued 1/20 % of the value.

(2) Where two or more assets are required to be valued by a registered valuer at the instance of an assessee, all such assets shall be deemed to constitute a single asset for the purposes of calculating the fees payable to such registered valuer.

(3) Where the amount of fees calculated in accordance with sub-rules (1) and (2) is less than Rs. 5000, the registered valuer may charge Rs. 5000 as his fees.

(4) The report of valuation by a registered valuer in respect of any asset under section 514(3), shall be in the Form No. 170.