Dear Sir, i am a nri and my wife is is a resident housewife staying in bangalore. i want to purchase agricultural land in my wife name. my wife has no income only interest income from investments i have gross income for more than 25lac we are from north and settled in Bangalore for 2 years we have no agricultural background. pls advise regards sanjeev gupta
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section 79 A prohibits purchase of agricultural land by any person or family who have annual income of more than Rs 25 lakhs from non agricultural sources
2) the amendment empowers deputy commissioners of districts, instead of assistant commissioners, to grant permission for non-agriculturists to purchase agricultural land under Section 80 of the Act.
Hello,
As per the recent government guidelines youbwont be able to purchase an agricultural property since your annual income is more than Rs. 25 Lakhs.
Regards
1. As per the law prevailing at Karnataka, a non agriculturist can not buy a piece of agricultural land there.
2. An Agriculturist having income of more than Rs. 2 lakhs from sources other than agricultural income also can not buy agricultural land in Karnataka.
The Legislative Assembly of Karnataka passed the Karnataka Land Reforms (Amendment) Bill, 2015, to increase the income limit for non-agricultural sources to purchase farmland from Rs. 2 lakh to Rs. 25 lakh.
The Bill empowers deputy commissioners of districts, instead of assistant commissioners, to grant permission for non-agriculturists to purchase agricultural land under Section 80 of the Act.
Thus your wife can buy the property however the family income should not be more than Rs. 25 Lakhs to make this possible.
Dear Client,
As per amendment in Section 79A of the Karnataka Land Reforms Act 1961, annual income limit for acquiring land by non agriculturist is extended to Rs 25 lakh from Rs 2 lakh.
Ur wife can borrow money from u, n can buy land.
You can purchase Agricultural Property on your wife name. But as per the new Income Tax act and registration Act, more than Rs.3 lakhs sale consideration should be paid through online and not in cash.
