Section 8 in Rajasthan Official Trustees Rules, 1956
8. Valuation for calculating fees under Section 17.
- For the purpose of calculating the fees under Section 17 of the Act,-(1)The value of any property shall be,-(a)in the case of a testamentary trust, the net value of the estate as valued for the purpose of the Court Fees Act, 1870 (VII of 1870) of the Central Legislature as adapted to Rajasthan, and(b)in any other case of property other than cash, the price which in the opinion of the Official Trust, such property would fetch if sold in the open market. For the purpose of determining such price, the Official Trustee shall, when necessary, consult an expert valuer.(2)Income, where the same is derived from the carrying on of any trade or business, shall mean the gross receipts of such trade or business, deducting any advance made and any expenses incurred by the Official Trustee for the purpose of carrying on such trade or business.
