Section 8 in The Punjab Official Trustees Rules, 1966
8. Valuation for calculating fees.
[Section 17 read with section 30(2)(f)]. - For the purpose of calculating fee under section 17 of the Act :-(1)the value of any property shall be -(a)in the case of testamentary trust the net value of the estate as valued for the purpose of the Court Fees Act;(b)in case of property other than cash the price which in the opinion of the Official Trustee 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 carrying on of any trade or business shall mean the gross receipts of such trade or business, after deducting any advance made by the Official Trustee for the purpose of carrying on such trade or business.
