TaxTMI 
TaxTMI 
Wealth tax liability
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....ealth tax liability<br> Query (Issue) Started By: - ratan rathi Dated:- 12-2-2008 Last Reply Date:- 28-2-2008 Other Topics<br>Got 2 Replies<br>Indian Laws<br>Whether wealth tax liability arises if agr....
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....i land owned by assessee is situated within muncipal(urban area) area. If yes, whether agriculture is to be actually done or Non converted land is enough.Further cerain land are barren land agri -oper....
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....ation on the same is not profitable, even then agri activity is compulsory for exemption.Please clarify. Reply By Surender Gupta: The Reply: As per the provisions of the wealth tax act, an urban lan....
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....d is subject to tax. However, if construction is not permitted, such land is not taxable. Mere use in agriculture can not debar such asset from wealth tax. Reply By ratan rathi: The Reply: Is it not ....
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....an agri land on which construction is not permissible hence not liable to wealth tax. Agri land in this way may get exemption from wealth tax.Pls confirm as some court decisons are against the view.<b....
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....r> Discussion Forum - Knowledge Sharing ....