Wealth tax -capital assets definition

This query is : Resolved

naseera banu (Querist)
Follow

28 February 2012 In the definition of assets u/s.2(ea),urban land which comes under the purview of municipality is included.Here the municipality definition includes Town Area committee's & Notified Area committee's.
I want know the meaning of these two terms in wealth tax..
Friends this is very urgent,,

Thank u all in advance...

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

08 April 2012 In India, under most state laws, no village or settlement can be classified as a town unless its population crosses 20,000 inhabitants. On the basis of population and other issues, the state government notifies a larger community (over 10,000) as a notified area, and its administration is under the locally elected notified area committee. A settlement over 20,000 population would be classified, with a charter from the state government as a town, with a town area committee. Some laws distinguish only towns and villages from each other, but by usage, settlement with larger populations, such as those having a municipal committee or municipal corporation would be called cities. The recent Census of India classified all settlements above 5000 population subject to some other rules as urban areas for the sake of census.In the Census of India 2001, the definition of urban area adopted is as follows: (a) All statutory places with a municipality, corporation, cantonment board or notified town area committee, etc. (b) A place satisfying the following three criteria simultaneously: i) a minimum population of 5,000; ii) at least 75 per cent of male working population engaged in non-agricultural pursuits; and iii) a density of population of at least 400 per km2. (1,000 per sq. mile).

In urban planning, a notified area is any land area earmarked by legal provision for future development. The term is used in the Hindi belt region of North India.
The term also describes a village or settlement with a population between 10,000 and 20,000. A community of over 20,000 is considered a town under Indian law. Each notified area elects a notified area committee for its administration, which function like municipality.