Easy Office
LCI Learning

Gift to trust

This query is : Resolved 

27 September 2020 If Any Individual Gifts Property to Trust registred under 12AA as a religious Trust then what will be tax liability in both individual and The Trust?
and what will be the consequences, if trust not registered under 12AA?
Please do suggest in tax planning manner.

27 September 2020 No tax liability for individual and trust in case of Trust registred under 12AA.
If trust not registered under 12AA, trust is liable for tax.



29 September 2020 Thank You.
Will you plz quote Relevant section for Individual and trust for no taxability




29 September 2020 Section 56 (2)(x) of income tax.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries