I just joined today, and I am in some urgent help from expert who can guide to buy Agri land in Karnataka. I am getting different opinions and suggestions from all over. AND yes, I am going through the topics that are posted in this forum one by one.
As far as I know, you can buy land if you are non-farmer with the permission of Assistant commissioner and you have to use it only for agriculture purpose and should cultivate the land within one year of purchase. You have to get the permission before hand else section79 A and B will be used against you to make money. Hope this Helps.
Recently i contacted a lawyer to understand this - Criteria to buy agri land in Karnataka
The buyer must be a farmer (means the buyer must own a farm land) AND the non-agriculture income should not be more than two lakhs. Please see below the “explanation” that is used to decide whether the person has 2 lakhs or more non-agri income.
Explanation.—A person who or a family or a joint family which has been assessed to income tax under the Income Tax Act, 1961 (Central Act 43 of 1961) on an yearly total income of not less than rupees two lakhs for five consecutive years shall be deemed to have an average annual income of not less than rupees two lakhs from sources other than agricultural lands.
Dear forum Farmer friends, upto my knowledge, as gathered from reliable sources ,any agriculture land holding farmer family, holding land and doing agriculture in his land any where in india,and/or any agriculture family doing agriculture in leased lands from considerable time, ofcourse any where in india, and/or any agriculture labour doing agriculture crops works only,from considerable period, ofcourse any where in india are eligible to purchase lands in karnataka state,subject to other limits,like income limits.
Proper certficates evidence is required and should be convenced by the karnataka revenue authorities. Any farmer or agri land lease holder or any agri labour has to submit relevant certificates if they are from other states and if they are from karnataka state, relevant RTC, Mutations to be submitted.
Any how it is advised to purchase agri lands in karnataka, after taking a legal opinion in individual cases
Thanks for providing such a detailed note. Further, I had one clarification. Could you kindly clarify whether the definition of “Annual Income” under section 79(a) is your “Gross” or “Taxable” Income?.