CA Hardik Bunha (self) (2121 Points)
27 December 2012agriculture land is situated within 8 km of municipality area.
not a single process done by the assessee on this agriculture land from 2 years.
Is it taxable under wealth tax or not?
CA MANISH AGRAWAL
(Practice)
(539 Points)
Replied 27 December 2012
yes ,it taxable as is within 8 k.m of any municipality limit u\s 2e of wealth tax act ,1956
praveen
(Chartered Accountant)
(6971 Points)
Replied 27 December 2012
Yes it become urban land and hence it will be taxable under wealth tak act.
CA Hardik Bunha
(self)
(2121 Points)
Replied 28 December 2012
what will be your view after read this document(attach file).
Dear experts in wealth tax law unproductive items not consider for weath tax. and for your kind information in whole wealth tax law the law does not clearly show what is a treatment of urban agriculture land.
this document generated from government records(read act and rules carefully).
Thanking You,
CAclubindia
