Office-bearers of Institution of Valuers hold meeting

Tribune News Service

Jalandhar, July 26

Office-bearers of the Institution of Valuers (IOV) organised a meeting of their members from Jalandhar, Hoshiarpur, Nawanshahr and Phagwara at Model Town here. The meeting was conducted under the chairmanship of GPS Chadha, chairman, Ludhiana branch.

Sundeep Bansal, a member of the administrative committee, said the agenda of the meeting was finalisation of registration, renewal and addition of the names of valuers; discussion regarding unauthorised /proxy valuers and discussion regarding the upcoming seminars.

Secretary Nitin Kumar Tayal said it had been decided that the Chief Commissioner of Income Tax, Ludhiana, would be requested to entertain fresh applications for the registration under Section 34 (a) (b) of the Wealth Tax Act, 1957. He said the Chief Commissioner would be further requested to either eliminate the provision of renewal/review from the registration or do timely renewal/review, upon receipt of application from the valuer for the same.

He said the Commissioner would be requested to enlist all the valuers.

It was decided that any member who has any information or evidences against unauthorised / proxy valuers, who either holds fake degree(s) or who are not fulfilling the criteria of being a member or who is submitting valuations on the behalf of an empanelled valuer, must inform the Head Office, New Delhi so that the membership of the erring valuer be cancelled with immediate effect.

The office-bearer decided that a seminar would be held tentatively on September 2 in Jalandhar. Eminent personalities such as Revenue Secretary, bankers, advocates, and senior officials from the related department(s) would be invited for a discussion on day-to-day problems being faced by valuers.

The Revenue Secretary would be requested to take all suitable measures while registering a title deed, enabling the valuers to identify the right property, the office-bearer added.