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Discussion > Income Tax > Others >

Wealth Tax

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CA Final

[ Scorecard : 257] 		Posted On 09 November 2010 at 22:15 Report Abuse

Whether Agricultural Land is treated as Asset under Wealth Tax Act? If yes, whether it can be claimed as Exempt Asset?

Devendra
M.COM CA Final [Group 2- Cleared] CS Professional

[ Scorecard : 4167] 		Posted On 09 November 2010 at 22:43

Dear Somaas,

Agricultural land situated in urban area is not liable to wealth-tax.

 

Regards,

Devendra. K



Total thanks : 1 times


Somaas Kandan
CA Final

[ Scorecard : 257] 		Posted On 10 November 2010 at 23:34

Thanks....

There are 2 Replies to this message







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