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Wealth tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 March 2012 THE DEFINITION OF THE URBAN LAND INCLUDES THE AGRICULTURE LAND SITUATED IN URBAN AREA? IS VALUE OF THE AGRICULTURE LAND BE INCLUDED IN THE GROSS WEALTH CALCULATION?
AND IF ONLY AGRICULTURAL LAND IN URBAN AREA WHICH IS USED FOR THE AGRICULTURE PURPOSE IS OWNED BY THE ASSESSEE, THEN IS HE LIABLE FOR WEALTH TAX?
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CA.rajni kalsariya

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CA.rajni kalsariya (Expert)
02 March 2012 yes agriculture land in urban area is includible for wealth tax purpose. even assessee use for own agri.purpose than also incudible.
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anurag

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anurag (Expert)
02 March 2012 yes, included in calculation if in urban area.
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