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Society reg act

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29 August 2009 Is it necessary for a charitable society to handover its property on dissolution to only a charitable society ? are there any case laws for the related matter ? Pls reply its urgent
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
30 August 2009 Yes. It is better if if handovers to a charitable society. If the bye laws says so.

If not you can give the property as the institution may deem fit. But capital gains tax has to be paid.

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