Urgent
This query is : Resolved
priyanshu gupta
(Querist)
09 January 2012
wheather a member of society registered u/s 12A can give land as a gift to his society , what will be the tax implement of this in the hand of member or society
CA PARAS BAFNA
(Expert)
09 January 2012
In case a member gifts his own land to the society, this transaction will not be treated as transfer as per Section 47(iii).
.
The society is also not liable for any tax.
as a gift of immovable property received by the society is not treated as its income.
.
.
The society is also not liable for any tax.
as a gift of immovable property received by the society is not treated as its income.
.
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