Llp

Firoz (Querist) 07 February 2014 This query is : Resolved
Dear Madam/Sir,
My question is can a Limited Liability Partnership buy agricultural land in Maharashtra if the partners are agriculturist and transfer it to N.A.

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Anirudh (Expert) 08 February 2014
Only an agriculturist can buy an agricultural land.

Therefore, the correct question to be asked and answered is, whether the LLp is an agriculturist?

T. Kalaiselvan, Advocate (Expert) 08 February 2014
Yes, please answer expert Mr. Anirudh's question so that you will get proper reply.

Firoz (Querist) 10 February 2014
Mr. Anirudh,
Thank you for your prompt reply. Let me explain you the motive.
We are four partners and we would like to lease a sharath land to a trust. In order to save taxes(nazrana) we would like to purchase it on LLP's name and then convert it to N.A. Kindly reply on the same

Regards,
Firoz

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