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Valuation Scenario in India.
Valuation is a diversified field and specialized Profession.
Previously Valuation profession was considered as a part time profession and most Architects and Engineers were adopting this field after their retirements or doing for as additional source of income.
Precisely Valuation is ART + SCIENCE + COMMERCE + LAWS related with developments. Valuation related work is required at many places like – Financial institutions, Banks, Insurance companies, Income Tax and Wealth Tax dept, Govt. Central and State Excise depts., Elections, Petroleum companies, etc etc.
Currently in India, Valuers profession is not governed under any Council, but very shortly Valuers bill shall be passed in Parliament of India.
Today, Registration of Valuers can be done with Chief Commissioner Income Tax under Wealth Tax Act, and then Valuers can affix as...Govt. Registered Valuers.