Agri Land Limit - TamilNadu

[karuna_kp]

Hi All,

I understand there is a limit on agricultural land which can be owned by an individual or a family(I guess its 15 Acres now). Is there any such limit for a private limited company for the sole purpose of agriculture?

Thanks,

 

[karuna_kp]

Hi All,

I understand there is a limit on agricultural land which can be owned by an individual or a family(I guess its 15 Acres now). Is there any such limit for a private limited company for the sole purpose of agriculture?

Thanks,

Does any body know answer for this?

 

[vkv_2]

Hi All,

I understand there is a limit on agricultural land which can be owned by an individual or a family(I guess its 15 Acres now). Is there any such limit for a private limited company for the sole purpose of agriculture?

Thanks,

the land purchased by a private limited company is considered as agricultural business and there is no limit on the quantity of land a company can hold. The only factor is that the income generated form the land is considered as business income and is taxable. You will have to file returns on the land income and also pay tax.

 

[karuna_kp]

Thanks!

the land purchased by a private limited company is considered as agricultural business and there is no limit on the quantity of land a company can hold. The only factor is that the income generated form the land is considered as business income and is taxable. You will have to file returns on the land income and also pay tax.

Sorry, I did not see your reply earlier. Thanks for your reply.