NEW DELHI, April 30 (Reuters) - The Indian 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 percent 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.
(Reporting by Manoj Kumar; editing by Malini Menon) Keywords: INDIA FINANCE MINISTER/TAX
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