agricultural land situated in urban area is liable for wealth tax

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....gricultural land situated in urban area is liable for wealth tax<br> Query (Issue) Started By: - alex thomas theruvath Dated:- 6-12-2010 Last Reply Date:- 7-12-2010 Other Topics<br>Got 1 Reply<br>Indi....

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....an Laws<br>whether agricutural land situated in urban area is exempt from wealth tax Reply By CA Rachit Agarwal: The Reply: As per Section 2(ea), Urban Land comes within the scope of assets and hence....

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.... taxable. However as per Section 2(e)(1), the agricultural land is beyond the scope of the assets and hence not taxable. 13[Provided further that in relation to the assessment year commencing on t....

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....he 1st day of April, 1983 or any subsequent as­sessment year, this sub-clause shall have effect subject to the modification that for item (i) thereof, the following item shall be substituted, namely ....

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....:— "(i)(a) agricultural land and growing crops (including fruits on trees), grass or standing trees on such land ;<br> Discussion Forum - Knowledge Sharing ....