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Tax on donation

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(Querist)
10 August 2018 A trust receive land as a gift or donation. what will be its tax treatment in the hand of donor and donee.
If it generates income from such land, what will be its income tax treatment.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
10 August 2018 Taxable in the hands of the donee u/s 56(2)(x)(b)(A).

Income is also taxable, but can seek exemption u/s 11 if the trust is registered
u/s 12A provided it is spent for the objects of the trust.
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Ankita Chachan

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Ankita Chachan (Querist)
10 August 2018 Thank u sir for ur valuable feedback :)
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