No wealth-tax on agriculture land :Change in Finance Bill 2013 | SIMPLE TAX INDIA
Please read the above news item.
The Wealth Tax Act had been amended retrospectively from 01-04-1993 by exempting agricultural lands located with in the 8 km limit of municipalities, Corporations etc with the following two conditions:
1. The land should be used for agricultural purposes.
2. The said land should be shown as agricultural in the revenue records of the state Govt.
This is an important piece of information which should be known to all tax professionals.
1 comment:
When you understand that you're likely to be giving one third of winning as tax, playing isn't so much fun. Author is an expert of оbtаіn аn EIN, click here for more interesting information.
Post a Comment