Hello,
I am a CA settled in Dubai. I being a Non Resident cannot invest in agricultural land in India.
My Father is a resident of India and resides in Vadodara, Gujarat.
None of my parents and their ancestors are agriculturists at present. I am interested in getting my father an agriculturist status in Gujarat. I am interested in purchasing an agricultural land for the sole purpose of agriculture and nothing else. How can that be done ??
We have family friends that are agriculturists and are ready to purchase agricultural land in their names. However, I would want the property to be in my father's name to avoid future disputes.
One way that I was advised of was : Purchase property in name of family friend and show the same as leased to my father. For 3 consecutive years declare agricultural income in Income Tax Returns. Based on this apply for agricultural status.
Is this the correct way and is it as simple as it sounds ?
Please advice me on the above
Thanks
Regards
Akshay Sam
