Rule 246: Applying for registration as a valuer under section 514
Rule 246 explains how a person applies to be registered as a valuer under section 514(2). The application is made in Form No. 169 with a non-refundable fee of Rs 10,000. It also covers pending applications on 1 April 2026, refunds where a person becomes ineligible under Rule 247, the transition of valuers registered under the Wealth-tax Act, 1957, and an examination that registered valuers must pass within the period notified by the Central Government.
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Rule 246 - Application for registration as valuer under section 514
(1) An application for registration as a valuer under section 514(2) shall be made in Form No. 169 and shall be verified in the manner specified therein and shall be accompanied by a non-refundable fee of ₹ 10000.
(2) Where an application for registration as a valuer is pending before the authorities mentioned in section 514(2), immediately before the 1st April, 2026, such application shall be considered as if it has been filed under sub-rule (1) and no further payment of fee shall be required in such a case.
(3) In case any person has become ineligible for making an application for registration as a valuer in view of the qualifications specified in the provisions of rule 247, the fee already paid by the applicant shall be refunded on an application made by him to the authorities mentioned in section 514(2).
(4) Where a person is already registered as a valuer under Wealth-tax Act, 1957 (27 of 1957) holding a valid certificate of registration as on the 31st March, 2026, he will continue to be a registered valuer under section 514, but that he is required to update his details by filing application as referred in sub-rule (1) by the 30th September, 2026, and in such a case, upon filing such application the registration shall be granted by the concerned authority in section 514, if the application is complete in all respects.
(5) For the purposes of sub-rule (4), the application may not be accompanied with any fee.
(6) Where a person is registered as a valuer under section 514, he shall be required to qualify in an examination within a period, as may be specified in this behalf by the Central Government, by notification.
(7) Where a person fails to qualify the examination as per sub-rule (6) within the specified period, the registration under section 514 shall stand cancelled with effect from the end of such specified period.
Rule breakdown
Fresh application: Rule 246(1)
Form: Form No. 169, verified in the manner specified in the form.
Fee: a non-refundable fee of Rs 10,000.
The application is made under section 514(2) to the authorities mentioned in that section.
Pending applications and refunds: Rule 246(2) and (3)
An application pending before the section 514(2) authorities immediately before 1 April 2026 is treated as filed under sub-rule (1); no further fee is payable.
If a person becomes ineligible because of the qualifications in Rule 247, the fee already paid is refunded on an application to the section 514(2) authorities.
Wealth-tax registered valuers: Rule 246(4) and (5)
A person holding a valid registration under the Wealth-tax Act, 1957 as on 31 March 2026 continues as a registered valuer under section 514.
Such a person must update details by filing the sub-rule (1) application by 30 September 2026. If the application is complete in all respects, registration is granted.
Sub-rule (5) says this application may be made without any fee.
Examination: Rule 246(6) and (7)
A registered valuer must qualify in an examination within the period specified by the Central Government by notification.
If the examination is not passed within that period, the registration stands cancelled from the end of that period.
Key takeaways
Form and fee
Form No. 169 with a non-refundable fee of Rs 10,000.
Transition deadline
Wealth-tax registered valuers update details by 30 September 2026, without fee.
Examination
Registration lapses if the notified examination is not passed in time.
Practical checklist
- Check the qualifications in Rule 247 before paying the fee.
- Track the 30 September 2026 deadline if you are moving over from Wealth-tax registration.
- Watch for the Central Government notification on the examination period.
Avoid
- Do not pay a fresh fee for an application that was already pending immediately before 1 April 2026.
FAQs
Which form is used to apply for registration as a valuer?
Form No. 169, verified as specified in the form (Rule 246(1)).
Is the Rs 10,000 fee refundable?
It is described as non-refundable. Rule 246(3) allows a refund only where the person has become ineligible because of the qualifications in Rule 247, on an application.
I was a registered valuer under the Wealth-tax Act on 31 March 2026. What must I do?
You continue as a registered valuer under section 514 but must file the Form No. 169 application to update details by 30 September 2026. No fee is required for this application (Rule 246(4) and (5)).
What happens if I do not pass the valuer examination?
If you do not qualify within the period notified by the Central Government, your registration stands cancelled from the end of that period (Rule 246(7)).
Glossary
- Registered valuer
- A person registered as a valuer under section 514.
- Form No. 169
- The prescribed application form for registration as a valuer under section 514(2).