The move will provide big relief to farmers, especially in Haryana and Punjab
Finance Minister P. Chidambaram on Tuesday allayed apprehensions over the imposition of wealth tax on agricultural land within urban area limits to provide a big relief to farmers, especially in Haryana and Punjab, relaxed the tax benefit-related residency norms for foreign investors routing funds through countries such as Mauritius and lowered the withholding tax rate to five per cent from 20 per cent on interest payments on investments by non-residents in long-term infrastructure bonds and corporate debts.