Section 14: Global valuation of assets of business.-(1) Where the assessee is carrying on a business for which accounts are maintained by him regularly, the net value of the assets of the business as a whole, having regard to the balance-sheet of such business on the valuation date after adjustments specified in sub-rule (2) shall be taken as the value of such assets for the purposes of this Act

Q: What does Section 14 of The Wealth-tax Act, 1957 (TWA) deal with?

Section 14 TWA pertains to "Global valuation of assets of business.-(1) Where the assessee is carrying on a business for which accounts are maintained by him regularly, the net value of the assets of the business as a whole, having regard to the balance-sheet of such business on the valuation date after adjustments specified in sub-rule (2) shall be taken as the value of such assets for the purposes of this Act". It is part of the The Wealth-tax Act, 1957, a legislation enacted by the Parliament of India. Section 14 of The Wealth-tax Act, 1957 (TWA) governs global valuation of assets of business.-(1) Where the assessee is carrying on a business for which accounts are maintained by him regularly, the net value of the assets of the business as a whole, having regard to the balance-sheet of such business on the valuation date after adjustments specified in sub-rule (2) shall be taken as the value of such assets for the purposes of this Act. As verified on 19 May 2026.

Q: Is Section 14 TWA still in force?

Yes, Section 14 of the The Wealth-tax Act, 1957 is currently in force across the Republic of India.

Q: What is धारा 14 TWA?

धारा 14 TWA is the Devanagari Hindi reference for Section 14 of the The Wealth-tax Act, 1957. Section 14 of The Wealth-tax Act, 1957 (TWA) governs global valuation of assets of business.-(1) Where the assessee is carrying on a business for which accounts are maintained by him regularly, the net value of the assets of the business as a whole, having regard to the balance-sheet of such business on the valuation date after adjustments specified in sub-rule (2) shall be taken as the value of such assets for the purposes of this Act. As verified on 19 May 2026.

Q: What is Dhara 14 TWA?

Dhara 14 TWA is the Roman Hindi reference for Section 14 of the The Wealth-tax Act, 1957. "Dhara" means "Section" in Hindi. Section 14 of The Wealth-tax Act, 1957 (TWA) governs global valuation of assets of business.-(1) Where the assessee is carrying on a business for which accounts are maintained by him regularly, the net value of the assets of the business as a whole, having regard to the balance-sheet of such business on the valuation date after adjustments specified in sub-rule (2) shall be taken as the value of such assets for the purposes of this Act. As verified on 19 May 2026.

Q: How to cite Section 14 of The Wealth-tax Act, 1957?

Cite as: "Section 14, The Wealth-tax Act, 1957 (TWA)" in legal briefs. For academic writing, use the BlueBook format: The Wealth-tax Act, 1957, § 14 (India).

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(2)

For the purposes of sub-rule (1)

(a) the value of any asset as disclosed in the balance-sheet shall be taken to be,

(b) where the value of any of the assets referred to in clause (a), determined in accordance with the provisions of this Schedule as applicable to that particular asset or if there are no such provisions, determined in accordance with rule 20, exceeds the value arrived at in accordance with clause (a) by more than 20 per cent. then the higher value shall be taken to be the value of that asset;

(c) the value of an asset not disclosed in the balance-sheet, shall be taken to be the value determined in accordance with the provisions of this Schedule as applicable to that asset;

(d) the value of the following assets which are disclosed in the balance-sheet shall not be taken into account namely:

(e) the following amounts shown as liabilities in the balance-sheet shall not be taken into account, namely: