Gift
This query is : Resolved
14 August 2020
If Individual Gift Land to The Trust then What will be the Tax Implications in Both hands?
Amount of Property is above Rs.50,000.
Amount of Property is above Rs.50,000.
14 August 2020
No tax in the hands of individual. No tax in the hands of charitable trust. Taxable in the hands of other trust.
14 August 2020
Charitable means Registered Under Sec.12A?
and please also quote Section reference for No Tax in both hands.
and please also quote Section reference for No Tax in both hands.
14 August 2020
Yes, registered under 12A.
Taxability of Gift U/s 56(2)(X)
Taxability of Gift U/s 56(2)(X)
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