Exemption for trust u/s 11(1A)
This query is : Resolved
Ravi Kumar Rajgaria
(Querist)
23 March 2009
Registered Trust sold the Mutual fund for Rs. 200000/- and capital gain occured 35000/-.
Can capital gain will be exempt if whole redemption is booked in FD with bank? or trust have to purchase another Mutual fund?
Can capital gain will be exempt if whole redemption is booked in FD with bank? or trust have to purchase another Mutual fund?
23 March 2009
Reinvestment in bank FD is O.K. Citation:-CIT Vs.Hindustan Welfare Trust (1993)70 Taxman 93(Cal).
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