Income tax

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Student CA Final
103 Points Posted on 24 January 2020
Trust - Donation Taxability

Trust received Donation
Donation received is in invested in purchasing Property.
so the Property purchased is given on Rent. Whether the Rent Received is subject to tax and under which section??
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On 24 January 2020 at 21:45 Report
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Quick Summary
This discussion clarifies the tax implications for a trust that received a donation, invested it in property, and subsequently generated rental income. It addresses whether this rental income is taxable and under which specific section of the Income Tax Act. The consensus points towards taxability under Section 12 of the IT Act at normal rates.

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Studwnt
1141 Points Posted on 24 January 2020
Trust income is subject to tax under section 12 of IT act
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On 24 January 2020 at 21:54
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Student CA Final
103 Points Posted on 24 January 2020
What will be the taxability of income for the above mentioned case.
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On 24 January 2020 at 21:57
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Studwnt
1141 Points Posted on 24 January 2020
Normal rates
1 Reply
On 24 January 2020 at 22:08
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17269 Points Posted on 24 January 2020
Great
Query and answer together 👍
1 Reply
On 24 January 2020 at 22:21

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