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Wealth Tax on Urban Agricultural Land

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(Querist)
04 March 2009 Wealth tax is not levied on productive assets.Urban agricultural land where agricultural operations are carried on is covered under the head Urban Land and is chargeable as taxable Wealth.Is it correct?
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
04 March 2009 As per Definition of Asset u/s 2(ea) you are absolutely correct.

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