In Private Specific Trust there is only one Beneficiary, where he himself, his wife and Son gives Gift by way of Cheque / Shares to that Secific Trust.
Whether Provision of Section 56(1)(vii) is applicable to such Gifts ??
Please quote article in this regards.
In Private Specific Trust there is only one Beneficiary, where he himself, his wife and Son gives Gift by way of Cheque / Shares to that Specific Trust.
Whether Provision of Section 56(1)(vii) is applicable to such Gifts ??
Please quote article in this regards.
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