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Shekar (CEO)     22 September 2011

Agricultural property

Dear Sir,

I have 3 questions:

Q1. One of my relative is an agriculturist. He wants to know whether income from agriultural yield will attract any income tax. His income is approx. 25-30 lakhs per annum through agricultural yield.

Q2. Also can he file IT returns in case he is not paying any taxes?

Q3. I'm a salaried employee. In Form-16 I see a column which says "Any income from Agriculture?". I'm keen to know why this is mentioned.

Thanks & Regards,

Shekar



Learning

 4 Replies

ojas bansal (owner)     22 September 2011

sir i had purchased the agricultural property in 2002 with agreement.

after full payment i get power of attorney in favour of my relative. but power of attorney in 2002 which is valid for 3 yrs in between this i had a agreement in 2004 with power attorney holder of full payment and for possesion. But i diidnt have the title and sale deed what should  i do to get the title and sale deed.

bhagwat patil (Property due diligence 9422773303)     23 September 2011

Register sale deed in sub registrar office of the area of land.

ojas bansal (owner)     23 September 2011

sir but the actual owner is not willing. he is refusing to do his. 

ojas bansal (owner)     23 September 2011

sir but the seller is not willing. he is refusing to do this. but the power attorney holder is my relative what shoul i do.


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