Agricultural land
shailabh (abc) (21 Points)
27 April 2017shailabh (abc) (21 Points)
27 April 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 27 April 2017
" we will buy an agricultural land in India in the name of the LLP. Is this transaction legal?"
In most of the states like Maharashtra, Gujarat, Karnataka etc., it is barred to purchased a agricultural land by the non-agriculturalist.
Refer: https://www.lawyersclubindia.com/experts/Purchase-of-agri-land-by-pvt-ltd-co-contradiction-in-expert-advice-388606.asp
So, If your are agriculturist, and if you purchase in individual capacity, then there is no restriction to purchase Class I land. If at all you want to purchase Class II land (New tenure) land either in individual or firm or Co.'s capacity , then permission from competent revenue authority is required. You may refer BT & AL Act 1948 for more details.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"