Wealth tax on urban land
This query is : Resolved
CA DIMPLEKUMAR V. SHAH
(Querist)
13 February 2013
Any Land situated at Ahmedabad Urban Development Authority(Auda) with NA permission (Land which is more than 8 KM away from AMC(Abad Mun.Corpo.) Wealth Tax Applicable? What will be answar if situated within 8KM from AMC with NA permission(i.e.Non Agri Land)? What will be answar if within or more than 8 KM away from AMC but Agri land in Auda?
CA PARAS BAFNA
(Expert)
13 February 2013
In my view , AUDA can be classified as notified area committee and area covered under AUDA can be treated as urban land.
As urban land is treated as an asset , it is liable for wealth tax.
.
As urban land is treated as an asset , it is liable for wealth tax.
.
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