Self acquired property

Gaurang Tripathi (Querist) 30 December 2022 This query is : Resolved
Is Income by farming on Ancestral agricultural land self acquired property or ancestral ?

Follow Query

Report Abuse

Sudhir Kumar, Advocate (Expert) 30 December 2022
please come with facts of the case instead of setting question paper.

Dr J C Vashista (Expert) 30 December 2022
@ Gaurang Tripathi,
You have stated the income (by farming) is from ancestral property, how did you infer that it may be self-acquired, answer is simple and straight that it is "ancestral"

Best wishes for the coming New Georgian year-2023

SHIRISH PAWAR, 7738990900 (Expert) 30 December 2022
Hello,

The self acquired term is used for property. The income received from an ancestral or joint property can be joint income.

Gaurang Tripathi (Querist) 30 December 2022
THANK YOU @ Dr j c vashistha ji and @ Shirish pawar ji

kavksatyanarayana (Expert) 30 December 2022
Yes. The income from farming land is joint property/income. A Very Happy Georgian New Year 2023.

T. Kalaiselvan, Advocate (Expert) 31 December 2022
It is an income belonging to the joint family or HUF and not self acquired of the person who is tilling the ancestral agricultural property