computation of 15% reserve for char. trust on capital gain
This query is : Resolved
18 November 2009
hello friends,
i am confused about whether there is 15% reserve facility is available in case of capital gain aslo (for charitable trust).
if it is availabe than this 15% reserve is available on total capital gain or balance capital gain (in case of part utilisation of sales amount).
provide ur answer with proper sections.
reply urgent
i am confused about whether there is 15% reserve facility is available in case of capital gain aslo (for charitable trust).
if it is availabe than this 15% reserve is available on total capital gain or balance capital gain (in case of part utilisation of sales amount).
provide ur answer with proper sections.
reply urgent
18 November 2009
15 % of the capital gain can be accumulated or set apart. -- by virtue of section 11 (1)(a).
15 % of the balance capital gain -- in view of section 11 (1A).
15 % of the balance capital gain -- in view of section 11 (1A).
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