34AB

GOVERNMENT APPROVED PAINTING VALUATION

Government Approved Painting Valuers India Statutory | Institutional | Corporate

The Resolution Professional managing the CIRP of a corporate debtor that operates an art gallery needs a painting valuation certificate. A bank's recovery officer enforcing a SARFAESI security involving paintings pledged as collateral requires a Distressed Sale Value assessment.

A CA handling an income tax assessment may need the FMV as on 1 April 2001 for a historical painting collection — requiring systematic research through relevant auction archives and artist-specific market evidence.

A corporate CFO holding Indian modern art on the balance sheet may require an independent FMV certificate for financial reporting and statutory audit.

Each assignment requires a different valuation methodology, report format and statutory basis.

The Government Approved Painting Valuer registered under Section 34AB, (Works of Art) provides the specialist professional framework for these assignments.

A2Z Valuers, under Nitesh Shrivastava, provides professional painting valuation services for taxation, CIRP, SARFAESI, corporate, institutional and statutory requirements across India.

Christie's — 19 March 2025: M.F. Husain's Untitled (Gram Yatra) sold for ₹119 crore, providing an important benchmark for Indian modern art markets.

250+ professional valuation services across India. PAN India.

REQUEST PAINTING VALUATION CERTIFICATE → IBC / ART GALLERY CIRP → CORPORATE ART COLLECTION →

Nitesh Shrivastava - Government Approved Painting Valuer India

34AB GOVERNMENT APPROVED
PAINTING VALUER

PRINCIPAL VALUER Nitesh Shrivastava

34AB Works of Art

In Association with IBBI Registered Valuers

PAN India

Government Approved Art & Antiquities Valuer

Nitesh Shrivastava

Government Approved Valuer Registered Valuation Expert

+91-9999992343 +91 8800371371

250+ Services 20+ Years

Professional Authorities & Statutory Registrations

Income Tax Department – Delhi

Income Tax Department – Uttar Pradesh

Income Tax Department – Lucknow

Income Tax Department – Goa

Income Tax Department – Karnataka

Income Tax Department – Mumbai

Income Tax Department – Hyderabad

Income Tax Department – Panchkula

Income Tax Department – Karnal

Income Tax Department – Guwahati

Black Money Act Authorised Valuer

Directorate of Enforcement (ED)

Customs Department Delhi

Delhi High Court & District Courts

Wealth Tax Act

Income Tax Act & IBBI

WHY THE STATUTORY CREDENTIAL MATTERS

Three Professional Painting Valuation Scenarios Where the Statutory Credential Is Non-Negotiable

A painting may require valuation for an insolvency proceeding, a retrospective tax computation or a corporate audit. The purpose determines the methodology, evidence and certificate.

01 IBC / CIRP

The Resolution Professional and the Gallery Corporate Debtor

A Resolution Professional managing the CIRP of an art gallery needs to include the gallery's painting inventory in the Information Memorandum at Fair Value and Liquidation Value.

The assignment requires an IBBI-compliant valuation framework for the relevant asset class, while the painting assessment requires specialist consideration of attribution, authentication, comparables and market liquidity.

REQUIRED CONTEXT Fair Value + Liquidation Value

Historical painting valuation for Section 55 2 b

02 SECTION 55(2)(b)

The CA and the Retrospective 2001 Valuation

A CA's client is selling a painting acquired in 1992. The capital gain computation may require the FMV as on 1 April 2001 as the cost of acquisition under Section 55(2)(b).

The retrospective assignment requires historical auction research, artist-specific comparables, period, quality, attribution, condition and market evidence around the relevant valuation date.

VALUATION BASIS Historical Market Evidence

Corporate Indian painting collection valuation

03 CORPORATE / IND AS

The Corporate CFO and the Art Collection Audit

A company holding a substantial Indian art collection may require an independent FMV certificate for financial reporting and statutory audit purposes.

Each painting may require separate consideration of attribution, authentication, provenance, condition, artist market and auction comparables before arriving at the concluded FMV.

CORPORATE REQUIREMENT Independent FMV Certificate

NEED A PAINTING VALUATION? Start with the statutory purpose, valuation date and painting details.

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Painting examined for professional valuation

VALUATION EVIDENCE Every painting has its own market story.

BEYOND A PRICE

How a Painting Becomes a Defensible FMV

A professional painting valuation begins with understanding the work itself and then connecting that evidence with the market in which comparable works are bought and sold.

Identify the Work

Artist, title, medium, dimensions, period and attribution are established from the available evidence.

Examine Condition & Provenance

Condition, signatures, inscriptions, provenance and authentication factors are considered where relevant.

Research Comparable Works

Relevant auction and market evidence is researched for the artist, school, period, quality and subject.

Adjust & Conclude FMV

Comparable prices are evaluated against time, quality, condition, provenance, size and other relevant factors.

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Painting valuation professional practice

PROFESSIONAL CREDENTIALS & RECOGNITION

A Painting Valuation Practice Built for Statutory & Institutional Reliance

The credibility of a valuation depends not only on the concluded figure, but on the statutory purpose, professional framework, market evidence and accountability behind it.

34AB

Government Approved Painting Valuer Section 34AB — Works of Art

IBBI

In Association with IBBI Registered Valuers Relevant for IBC CIRP and Companies Act valuation contexts

ITD

Income Tax Department Appointments PAN India capital asset enforcement valuation assignments

₹50+

₹50+ Crore Art & Jewellery Assignment Mughal jewellery and colonial Indian art valuation experience

₹119C

M.F. Husain Auction Benchmark Christie's — 19 March 2025

250+

Professional Valuation Services Comprehensive valuation capability across India — PAN India

GOVERNMENT APPROVED PAINTING VALUATION Evidence. Methodology. Professional Accountability.

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