Amendment of section 2

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.... day of April, 2014, namely:-            '(b) "urban land" means land situate--                 (i) in any area which is comprised within the jurisdiction of a municipality (whether known as a municipality, municipal corporation, notified area committee, town area comm....

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....om the local limits of any municipality or cantonment board referred to in sub-clause (i) and which has a population of more than one lakh but not exceeding ten lakh; or                       (III) not being more than eight kilometres, from the local limits of any municipality or cantonment ....

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....ublished before the date of valuation.'. - Clause 51 seeks to amend section 2 of the Wealth-tax Act relating to definitions.       The provisions contained in clause (ea) of section 2 define the term 'assets'. Sub-clause (v) of the said clause (ea) includes 'urban land' in the definition of the term 'assets'. Clause (b) of Explanation 1 to the said clause (ea) define....