Won't impose wealth tax on farm land: P Chidambaram
By PTI | 30 Apr, 2013, 02.29PM IST( Economic times)
NEW DELHI: The government has no intention to impose a wealth tax on farm land,Finance Minister P. Chidambaram said in parliament on Tuesday, providing relief to farmers.
Earlier, the minister had proposed to impose 1 per cent wealth tax on the value of farm land falling within an 8-kilometre radius of urban areas.
Farm income in India is exempted from payment of income tax.
Earlier, the minister had proposed to impose 1 per cent wealth tax on the value of farm land falling within an 8-kilometre radius of urban areas.
Farm income in India is exempted from payment of income tax.
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