i own a plot of land in a horticulural regd society
i have to sell the plot the noc from the society have been taken.
the buyer is also an existing member of the same society.
Q. is the horticultural land is considered as agricutural land from i tax point of view.do the sellar or buyer or both need to be agriculturist to own the sharesof the said society ?
Asked 1 year ago in Taxation from Dombivli, Maharashtra
In maharashtra there is a rule that you cannot buy agriculture land if you are not a farmer. Hence check with your society bye-laws if a non-agriculturist can buy the land. this will be contained in maharashtra land revenue laws. Please check up with a CA for the technical view as regards the tax.