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Receive Agri Land from Mother to NRI Son through Gift Deed
08-Oct-2023 (In Property Law)
Is it legal and allowed to receive Agri land from Mother to NRI Son using Gift Deed?
In this case, NRIs and PIOs can receive property as gifts from a person resident in India, from another NRI or from a PIO. However, the property can be only a commercial property or a residential property. Agricultural land, plantation property and farm house in India cannot be acquired by way of gift. I have a vast practice in that area you can seek my assistance in your matter.
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Adv. Raghuraman Balaji
Chennai | 500+ Answers
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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 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
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.
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