TaxTMI 
TaxTMI 
agricultural land situated in urban area is liable for wealth tax
X X X X Extracts X X X X
X X X X Extracts X X X X
....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....
X X X X Extracts X X X X
X X X X Extracts X X X X
....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....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 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....
X X X X Extracts X X X X
X X X X Extracts X X X X
....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 ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....:— "(i)(a) agricultural land and growing crops (including fruits on trees), grass or standing trees on such land ;<br> Discussion Forum - Knowledge Sharing ....