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Can Trust sell Fixed Assets ?

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 October 2010 Hi Guys,

Can a registered trust sell the Fixed assets (Land & Building)?

If So what's the mode of investment of capital gains?

Can it be invested again in Land or else can they be invested in Fixed deposits.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
10 October 2010 1. YES.
2. Reinvestment should be in another capital asset as defined in section 2(14).
3. Can invest in land and not in fixed deposits to get exemption from capital gains tax as per section 11 (1A).
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