computation of 15% reserve for char. trust on capital gain

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joginder (Querist)
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18 November 2009 hello friends,

i am confused about whether there is 15% reserve facility is available in case of capital gain aslo (for charitable trust).

if it is availabe than this 15% reserve is available on total capital gain or balance capital gain (in case of part utilisation of sales amount).

provide ur answer with proper sections.

reply urgent

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 November 2009 15 % of the capital gain can be accumulated or set apart. -- by virtue of section 11 (1)(a).

15 % of the balance capital gain -- in view of section 11 (1A).