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The Finance Act, 1988

Insertion of new section 34AE

In force Act 26 of 1988 As on 16 Oct 2026

Act 26 of 1988 Ministry Finance

Section 61 of the Finance Act, 1988 deals with insertion of new section 34AE. Insertion of new section 34AE 61. In Chapter VIIB of the Wealth-tax Act, after section 34AD, the following section shall be inserted with effect from the 1st day of June, 1988, namely: — Existing registered valuers to apply afresh "34AE.

Insertion of new section 34AE

61. In Chapter VIIB of the Wealth-tax Act, after section 34AD, the following section shall be inserted with effect from the 1st day of June, 1988, namely: —

Existing registered valuers to apply afresh

"34AE. (1) Notwithstanding anything contained in this Chapter, every person whose name is included in the Register of Valuers immediately before the 1st day of June, 1988, shall, if he intends to continue to be registered under this Act, make an application under sub-section (2) of section 34AB within a period of three months from that date, for being registered afresh as a valuer under this Chapter and the provisions of sub-section (3) of that section and the rules made thereunder shall be applicable in respect of the verification of the application, the fees that shall accompany such application and the declaration to be made by the applicant.

(2) The provisions of this Chapter regarding the registration of a person as a valuer and other matters shall, so far as may be, apply to every application made under sub-section (1).

(3) Every application pending before the Board immediately before the 1st day of June, 1988, shall be deemed to be an application received by the Chief Commissioner or Director General under subsection (1).".

[Finance Act, 1988]

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Section 61, The Finance Act, 1988 (Act 26 of 1988).

Questions about Section 61

What does Section 61 of the Finance Act deal with?

Section 61 of the Finance Act is headed "Insertion of new section 34AE". Insertion of new section 34AE 61. In Chapter VIIB of the Wealth-tax Act, after section 34AD, the following section shall be inserted with effect from the 1st day of June, 1988, namely: — Existing registered valuers to apply afresh "34AE.

How do I find court cases under Section 61 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1988 61, section 61 Finance Act 1988, section 61 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

When was the Finance Act enacted?

Finance Act was enacted in 1988 as Act 26 of 1988. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.