26 August 2020
The Capital Gain Tax can be avoided if the entire sale consideration is invested (85% criteria for trust) for charitable activities during the year.
27 August 2020
(1) 54EC can be availed by trust because * bonds specified therein is a capital asset per 2(14) and * by depositing in the said bonds, trust satisfies 11(1A) (a)(i)/(ii).
Ps:- If net consideration is used for 54EC, full exemption, otherwise partial and the remaining capital gains forms income derived from property for 11(1)(a).
(2) 85 % criteria is applicable for capital gains if net sale consideration is not fully utilized for acquiring another capital asset.
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