Wealth Tax on Urban Agricultural Land
This query is : Resolved
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?
04 March 2009
Yes, u/s. 2(ea) of wealth tax act, 1957 it is a taxable wealth
Yes, u/s. 2(ea) of wealth tax act, 1957 it is a taxable wealth
04 March 2009
as per defination U/S 2(ea)(V) : urban land is an ASSET. whether it is agricultural land or non-agricultural land.
thus, its taxable wealth.
thus, its taxable wealth.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
