https://www.taxtmi.com/forum/issue?id=2432 The definitional reach of assets includes urban land, making it taxable, while the statutory exclusion for agricultural land removes qualifying agricultural land from wealth tax. A statutory modification substitutes an item expressly mentioning agricultural land and growing crops, grass or standing trees, thereby affecting the operation of the exclusion for later assessment years. en-us Mon, 06 Dec 2010 14:03:53 +0530 Thu, 23 Jan 2025 15:58:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2432 The definitional reach of assets includes urban land, making it taxable, while the statutory exclusion for agricultural land removes qualifying agricultural land from wealth tax. A statutory modification substitutes an item expressly mentioning agricultural land and growing crops, grass or standing trees, thereby affecting the operation of the exclusion for later assessment years. Discussion-Forum Indian Laws Mon, 06 Dec 2010 14:03:53 +0530 https://www.taxtmi.com/forum/issue?id=2432