TMI BlogWealth tax liabilityX X X X Extracts X X X X X X X X Extracts X X X X ..... Whether wealth tax liability arises if agri 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.Furt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her cerain land are barren land agri -operation 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provisions of the wealth tax act , an urban land 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax. - Reply By ratan rathi - The Reply = Is it not 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 c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onfirm as some court decisons are against the view. - Wealth tax liability - Query Started By: - ratan rathi Dated:- 12-2-2008 Other Topics - Got 2 Replies - Indian Laws - Discussion Forum - Knowle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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