https://www.taxtmi.com/circulars?id=8977 Exemption for agricultural land is integrated with the aggregate exemption for specified assets; compute wealth-tax on those assets by applying the average rate to their value after deducting the aggregate exemption, then allocate to agricultural land by prorating the post exemption tax in the ratio of agricultural land's gross value to the gross value of the specified asset class before deduction. If the combined gross value of those assets is below the aggregate exemption ceiling, no tax is attributable. en-us Mon, 26 Apr 1976 00:00:00 +0530 Wed, 01 Jun 2011 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8977 Exemption for agricultural land is integrated with the aggregate exemption for specified assets; compute wealth-tax on those assets by applying the average rate to their value after deducting the aggregate exemption, then allocate to agricultural land by prorating the post exemption tax in the ratio of agricultural land's gross value to the gross value of the specified asset class before deduction. If the combined gross value of those assets is below the aggregate exemption ceiling, no tax is attributable. Circulars Income Tax Mon, 26 Apr 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8977