puchase of agricultural land

In the first place I doubt whether laws in Tamil Nadu permit purchase of agricultural lands by non agriculturists. If possible then the reply to your second part is your father & you can purchase the land provided you have legal sources of declared income.

Is he entitled to pay income tax/property tax for his purchase? If yes are there any ways to get rid of tax because it is an agricultural land.

Income tax: No

Property tax: Yes in form of land revenue

Can we become the joint onwers? will that help me (as i am paying my income tax) ?

Ans. Yes.

during the service period, your father must have paid income tax on his income and if he now invests that money, he is not liable for any income tax on the purchase of agricultural land and revenue tax which is very petty amount is to be paid after the purchase.

Dear Sir, a builder owes me some money for which he is offering me 1 acre agricultural land in Bhivpuri, Karjat, Maharashtra. Neither me nor anyone in my family is a agriculturist. Pls suggest what all formalities are involved in purchase of that land. Also, if I go for registered Agreement to sell with payment of stamp duty, wil it serve any purpose. Can i have the phone number of an expert lawyer for that area??

Its very urgent.

My contact details are 09321412935 _ Shorabh

Thank you Mr.Vishal and Mr.Rajkumar for your reply.

I have few more queires which i would appreciate if answered.

1) In terms of "declared income". My father has been working for the past 33 years in stategoverment and only from the last year onwards he is eligible for income tax. He had submitted his returns for last year. But the accumulated fund is his savings over the period of these many years. Can this fund be treated as declared income?

2) Where we have to pay land revenue post purchase and for what amount? (Is the registeration or stampduty is called land revenue tax)

3) When I became the joint onwer, what should i do to get tax exception, under what section i should declare it?

thanks

regards

felix