Exemption for agricultural land u/s 5(1) (iva) of the Wealth-tax Act, 1957.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the type mentioned in section 5(1A), for exemption upto Rs. 1,50,000/- in the aggregate. In the light of this amendment, the method of calculation of wealth-tax relating agricultural land for making the necessary entries in the Demand and Collection Register is explained in the following paragraphs. 2. As a first step, the wealth-tax attributable to assets of the type mentioned in section 5(1A) ....