agriculture 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?
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Wealth tax
Replies (3)
yes ,it taxable as is within 8 k.m of any municipality limit u\s 2e of wealth tax act ,1956
Yes it become urban land and hence it will be taxable under wealth tak act.
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,
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