Deepender Hooda welcomes Centre's announcement on wealth tax

NEW DELHI: The Centre's announcement about not imposing wealth tax on agriculture land was today welcomed by Haryana Congress leader Deepender Singh Hooda who said it lays a "legal foundation" on the issue and addresses the concerns of farmers.

He said farmers had been anxious over the issue and the decision by Finance Minister P Chidambaram takes care of the "loopholes" in a judgement by Punjab and Haryana High Court.

"It creates a legal foundation for the future on the issue of wealth tax," said Deepender, son of Haryana Chief Minister Bhupinder Singh Hooda who yesterday led a delegation of Congress MPs to Chidambaram on the issue.

Deepender, along with three other Congress MPs, had moved amendments to the Finance Bill seeking exemption of agriculture land from wealth tax but withdrew it when Chidambaram moved the official amendment on the same.

Citing the loophole in a judgement of Punjab and Haryana High Court, the 35-year-old Lok Sabha member said, "we wanted it in the law. That is why we had moved the amendment. Now, since the government itself has moved the amendment, we welcome it."

Deepender, who was part of the 30-member delegation that met the Finance Minister here yesterday, said the whole issue was explained to Chidambaram after which he promised to make a statement in Parliament to assure that wealth tax will not be imposed on agriculture land.

"But I insisted on an amendment so that it becomes legal," he said, adding Chidambaram later realised it and brought the amendment from the government side.Deepender Hooda welcomes Centre's announcement on wealth tax