LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Farmer of Punjab (Owner)     24 December 2010

Buying Farm Land in Gujarat

I have a two part question:

 

1. I am a domiciled Farmer in Punjab. Can I buy agricultural land in Gujrat?

 

2. For tax and other management purposed, is it advisable to buy land as an Individual or is it better to have a Pvt. Ltd. company to buy such land?

 

Thanks in advance for all your inputs.

 

Kind regards,

Gagan



Learning

 5 Replies

Darshan Panchal (Advocate)     24 December 2010

As provided in section 2(6) of Bombay Tenancy and Agricultural Lands Act, agriculturist of other states can not be considered as "Agriculturist' for the purpose of purchasing agricultural lands. Highcourt of gujarat has also held that only those who cultivates the land in gujarat can be called or termed as an agriculturist. However, a company can purchase agricultural lands for "bonafide industrial use" as provided under section 65-B of " Bombay Land Revenue Code". Several companies have purchased lands for bona fide industrial use in gujarat wherein no previous permission of govt.i .e collector is to be obtained.

So far as tax aspect is concerned, your chartered accountant can guide you in a better way

Bharatkumar (ADVOCATE )     25 December 2010

Ans. (1) No, u r not purchase a agriculture land in Gujarat because u r not farmer in Gujarat.

(2) U r purchase a Non - Agriculture land in your company name.  

bhagwat patil (Property due diligence 9422773303)     26 December 2010

If you are going to reside in the state sec 62 is not applicable, as ypu own an agri. land anywhere in India. agricultural income is totally  taxfree, you may consult for details to IT experts.

dharmendra (rules)     04 January 2011

hi any one can help me out i m a farmer of gujarat state i just want to know all rules n law of agriculture land . can i get it online .or is there any book of that .... n what is tukda act?

Ajay (NOT APPLICABLE)     12 February 2012

Dear Dharmendra,

There is an Act called " THE BOMBAY PREVENTION OF THE FRAGMENTATION AND CONSOLIDATION OF HOLDING ACT, 1947" which deals with Tukda (Fragmentation) related matter of the land and its "Akatrikaran" (Consolidation) related matters....

Hope it is the Act you were looking for !!

Regards,

Ajay


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register