368+ Lawyers are online 
Can an NRI (Indian Citizen) buy an agricultural land in Karnataka
23-Apr-2023 (In Property Law)
I am an Indian Citizen living in US since last 5 years. My father is a farmer and I too bought a piece of land when I was in India. Now my relatives want to sell their farm land as they need some money to pay off their credits. Please tell me what are my options? 1. Can I buy the farm land directly being an NRI holding Indian citizenship? 2. Should I have my parents buy the farm land and gift me when I return back? Or, is there any best option I have to do this deal directly? I appreciate your quick response. Thanks,
There are some specific requirements that are stated in Sections 79A , 79B and 80 of the Karnataka Land Reforms Act. You will need to refer to the same to see if you qualify to purchase agricultural land in karnataka.
Helpful?
47+
47+
Adv. Ramakrishnan S.
Bangalore | 100+ Answers
CONTACT NOW
Is sale of rural agricultural land taxable by NRI?
A rural agricultural land is not considered a capital asset, and therefore no capital gain will be generated on the transfer of this land. This exemption is covered by section 10(37), of the Income Tax Act, 1961. This sale will not result in capital gains.
Can parents gift agricultural land to NRI?
Only by inheritance can you legally inherit agricultural land. NRIs cannot inherit agricultural land. If you spent more than 182 consecutive days in India in the last financial year, it may be possible.
Can overseas citizen of India buy agricultural land in India?
The exchange control law prohibits non-resident Indians and foreign passport holders from acquiring agricultural land in India. 14-Feb-2022
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Property lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
