Urgent

Save Share

This query is : Resolved

priyanshu gupta (Querist)
Follow

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

CA PARAS BAFNA (Expert)
Follow

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.
.

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