Dear Sri Sudhir,
Welcome to our farmers Forum sir.
If your parents are having land and they have RTC and mutation on their name, as a son of them you have every possibility to purchase land in your name, subject to certain conditions.
Your grass income should be less than rs 20,00,000/_ per anum, you have to convince the Revenue authorities that you will do Agri/Horti activities in the purchased land. Basing on that they will transfer the mutation and etc in your name. After getting the etc and mutation in your name after registration in your name and if you really do Agri/Horti activities, there will not be any problem generally, in future also.
As regards to your 2nd question, you please contact the chartered Accountant, to get a correct advise.
With best wishes, g.p.rao, farmer