Private Limited Company buy agricultural land

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Gaurav Agarwal

Gaurav Agarwal (Querist)
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15 September 2010 Can a private limited company buy agricultural land? If so, kindly cite and example.

mohinder kansal

mohinder kansal (Expert)
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15 September 2010 yes, a private limited company can buy the agricultural land and also carry on agricultural activities on the land. object clause of the MOA may be amended for the purpose. what type of example u want ? We have many companies who are doing this and in some of cases appeals have also been decided by ITAT in assessee's favour.

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Gaurav Agarwal

Gaurav Agarwal (Querist)
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15 September 2010 Can you please provide sample MOA for such company, also please name few companies? Can such company latter apply for conversion of such land to Non-Agriculture land and do real- estate or other activities on such land?

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Gaurav Agarwal

Gaurav Agarwal (Querist)
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16 September 2010 Can you please provide sample MOA for such company, also please name few companies? Can such company latter apply for conversion of such land to Non-Agriculture land and do real- estate or other activities on such land?

NITIN SHARMA

NITIN SHARMA (Expert)
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24 September 2010 In India every person wether natural or artificial can buy agricultural land and can engage in the agricultural activities if permitted by mou. If the mou not contained the agricultural object dispite of that an pvt.ltd. co can buy agricural land as investment.the coversion of such land into non agricultural land depends upon the local law of land.