what will happens if N.R.I. buy agricultural land in India.Watch first, now this article is intended for free legal education and information purposes only from our law office/law firm and the said article should not prepare as proper free legal advice. For this purpose, as well as readers should contact us for proper and particular legal advice on the said article.
what will happens if N.R.I. buy agricultural land in India. Look it, now there is a great understanding of confusion on the public a about legal document called as a will.
It is for this reason, in the some that I have tried to write an in-depth article on a legal document called Will. Who should make the will? With regard to tax returns, see, now in short I then hope through our Law Firm / Attorney at Law that this article will be useful for the testator regarding tax information and users will increase their legal awareness or understanding through this article.
| serial | Summary of content |
| 1. | History |
| 2. | What are the documents required (Related) for agriculture land on will legal document? |
| 3. | How can I buy Government land? |
| 4. | How do I get free government land? |
| 5. | How do you do pedhinama? |
| 6. | Who can issue Pedhinama? |
| 7. | How do get a legal certificate? |
| 8. | Can Daughter claim her right on agriculture land? |
| 9. | Can we plotting on agriculture land? |
| 10. | Can agriculture land be acquired by Government? |
| 11. | Can I get loan for buying agriculture land in India? |
| 12. | Can I build house on agriculture land? |
| 13. | Is agriculture land is taxable? |
| 14. | Which serves as proof of ownership of agriculture land |
| 15. | Study-Case law |
| 16. | Tips for buying agriculture land in India |
| 17. | Conclusion |
By all mean now look at the world in more commonly, you see the administration, transfer or disposal of estate after the death of a person has pattern of human psychology or sociology.
what will happens if N.R.I. buy agricultural land in India. First, for the most of part there was also a reality that created only for the person who died without any heirs. For one thing the concept of freedom of nature by will-document. It is customary, is taken in common law. Complete freedom than the rule in the situation is the exception.
In time, in this situation civil law often places certain limits on the possibilities of administration, transfer, or disposal of estate.
The following documents are most often required for inheritance based on the will of the deceased's property.
See answer No, because of you cannot directly buy land from the government for your own benefit. You can lease the land for the said build a house or IT park purpose. But you can apply for permission of buying government land to the district collector or government agency of land as per state policy and law of the land. The district collector or government agency of land decides your application on merits of state government policy and state government laws through draw systems.
For the procedure above mentioned purpose prescribed for purchasing such agricultural land involves making an application to the local District Collector or government land agency of where you wish to purchase the land, and making a case for such purchase. As well as the District collector or Government land agency is satisfied and compare to as per norms he will allot the land to you and you will be obliged to commence farming it within twelve months from allotment, or such other period as he may prescribe state policy or and law manner, the said provision related on agriculture land applicable for only agriculturist/Farmer never Non-farmer. Now the District collector or Government land allotment agency decide your permission application not fulfill state laws and state policy he can reject your permission application.
See now for the procedure above mentioned purpose prescribed for purchasing such land or open plot involves making an application to the local District Collector or government land allotment agency of where you wish to purchase the land or plot, and making a case for such purchase. As well as the District collector or Government land allotment agency is satisfied and compare to your permission application as per norms he will allot the land to you and you will be obliged to Built a house or farming it within twelve months from allotment, or such other period as he may prescribe state policy or and law manner, the said provision related on agriculture land applicable for only agriculturist/Farmer never Non-farmer. But Now the District collector or Government land allotment agency decide your permission application not fulfill state laws and state land allotment policy he can reject your permission application.
The following documents are most required for Pedigree based on the will of the deceased's property.
See; take the above mentioned documents to the Talatishri of the village or city. First where the property of the deceased is located and if there are satisfactory documents after verification, for this purpose Talatishri will issue you by signing and stamping the pedigree.
Please read carefully.
A. The applicant has to visit the tehsildar or taluka office. An alternative option is when he consults a lawyer from the district civil court.
B. Get the application form the applicant has to get the application form from the concerned Tehsildar Officer or presiding officer.
C. The applicant will then have to enter all the required details in the application form.
D. Attach attested documents once all the details are entered, the applicant will have to attach all the mandatory documents with the application form.
E. Affixing stamp the applicant has Rupees 3/- in the application form.
F. Submit the application after this; the applicant will have to submit the application form to the authorized officer in the tehsildar's office or civil court.
G. The application is then verified by the village administrative officer and the revenue inspector or presiding officer.
H. Upon completion of all verification procedures, a certificate will be issued by the concerned authority mentioning all the legal heirs of the deceased.
Definitely, Daughter claims her quall property right on agriculture land.
Absolutely, you are fall in definition of farmer of the agriculture land so you can entitle.
Yes, Government agency or body entitled for acquired agriculture land for public purpose.
The following criteria are must required of Loans for agricultural land.
1. Farmers, dairy owners, horticulturists, and any garden owners are eligible to apply for agricultural loans.
2. Most lenders choose the age of the applicant within 24 to 65 years. However, there are some banks that offer loans to applicants up to the age of 18 years. Eligibility varies from one bank to another.
3. The land is owned by two people, the co-applicant is mandatory.
4. Agricultural land is mortgaged as collateral. The borrower must have a clear name of the land to be eligible to apply for a loan against agricultural land.
5. Generally, lenders prefer borrowers for 2 year residence stability.
6. Most banks offer loans based on the size of the mortgaged land. They usually refer to the minimum acre of land that a farmer should apply for a loan.
As per provision of law you cannot built a home on the agriculture land. But you are fall in definition of farmer so land revenue code and tenancy law of India provide facility for farmer to build a house in agriculture land.
Rural agriculture land in rural area of agriculture land does not fall in provision under capital assets. Urban agriculture land called as capital assets but urban agriculture land exemption under tax law thus urban agriculture land fall in long term capital gain tax and short term capital gain tax chargeable at slab rate. But please read carefully.
Exemption in case of compulsory acquisition of urban agricultural land: Any capital gain arising out of compulsory acquisition of urban agricultural land, even if it is a capital asset, will be exempted under section 10 (37) of the Income-tax Act, 1961, if certain conditions mentioned in that section are met.
1. Such land should be urban agricultural land.
2. Such land, for a period of two years immediately before the date of transfer, was being used for agricultural purposes by the HUF or the individual or his parents.
3. Such transfer is made by compulsory acquisition under any law or by the Central Government or the Reserve Bank of India as determined or approved.
4. Compensation or consideration for such transfer received on or after April 1, 2004 by such taxpayer has also resulted in such income.
Exemption in other cases of transfer: Exemption under Section 54B of the Income-tax Act, 1961 is available in respect of capital gains arising out of transfer of agricultural land. This exemption is available when the capital gain arising on the sale of urban agricultural land (as a rule agricultural land is not capital property) and such capital gain is used for other agricultural land.
1. Exemption is available for individual or HUF.
2. The land being sold should have been used by the person or his parents or HUF for a period of two years immediately before the date of transfer for agricultural purposes.
3. Other land for agricultural purpose (whether rural or urban) should be purchased within a period of two years from the date of transfer of this land.
4. New farmland that is purchased to claim Capital Gains Exemption should not be sold within a period of three years from the date of its purchase.
5. If the taxpayer is not able to purchase agricultural land before the date of filing of income tax return under-139 the amount of capital gain should be deposited in any bank or institution before the date of filing the return. Capital Gains Account Scheme 1988, Exemption can be claimed for the amount deposited.
6. If the amount deposited under the Capital Gains Account Scheme is not used to purchase agricultural land - it will be treated as a capital gain for the year in which the period of two years from the date of sale of the land expires.
Exemption from capital gains under 54B- the value of the new farm land is equal to or greater than the capital gains, the total capital gains exemption. Moreover, if the value of the new farm land is less than the capital gain, the capital gains are exempt to the extent of the cost of the new farm land.
The following documents are most required for ownership document of Agriculture land based on the estate.
Lastly, all in all if the will is registered keeping in view the matters mentioned in this article, in sum the person making the will definitely get due to the benefit as per law. And in like manner it is also desirable to have a will registered with an expert property lawyer if possible.
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