As per Karnataka Land reforms act, 1961, :-
Section 79(A), inserted by way of an amendment in 1974, bars individuals with an annual income of Rs 2 lakh and above from non-agriculture sources from buying farmland. The law empowers the revenue authorities to declare such purchase "null & void" and take away the ownership of the land.
Soon, non-agriculturists whose income is less than Rs 25 lakh per annum will be able to buy farmlands in Karnataka, thanks to the government which is planning to amend the Karnataka Land Reforms Act.
Please be aware that the proposal by the government is yet to be come law, so as of now the Rs. 2 Lakhs ceiling is the law.
Section 79B prohibits holding of farmland by entities such as educational, religious or charitable institutions or a society, trust, or a company. The law, however, provides a remedy.
Section 109 of the same Act empowers the revenue authorities to allow buying a piece of farmland for purposes like running an educational institution or to set up an industry . But the entity concerned must first apply to the Deputy Commissioner asking for exemption.
The Deputy Commissioner has the authority to permit purchase of as much as 50 acres of land for educational institutions.