Dear Sir
My client wants to know :
He is a farmer and owns some land for farming in Rajasthan and Uttarakhand.
Can he form a company / or partnership firm and transfer the land in the company name to safeguard his interests in future
from the rural ceiling act.
He is growing crops right now and is exempted from tax.
Would the company has to pay tax in future if it makes money from crops ?
Is it allowed to transfer if not what is the way out ?
