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Wealth Tax

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22 April 2009 500sq. metere land in urban is exempted under the wealth tax in this clarify the followings. 1. what is the correct area of land in 500 sq metere in feet. and if land is in rural area exemption is available.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
22 April 2009 The exemption if only for Ind & HUF only, It is available for rural areas too.
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CA CS CMA Srinivasan N

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CA CS CMA Srinivasan N (Expert)
22 April 2009 1 square meter = 10.763 910 417 square foot

For 500 SqMtr it will be 5381.955209 sq ft of Land.
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