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Querist : Anonymous

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Querist : Anonymous (Querist)
26 August 2011 can anyone tell me if" Trust is assessed as individual in Income tax. whether it is covered U/s 56(2)(vii)"?????
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CA.SHAHZAD SAYYED

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CA.SHAHZAD SAYYED (Expert)
27 August 2011 Dear
Gift Provision are applicable only to natural person such as Individual and HUF Members, Trust is deemed person and hence This Section is not applicable.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
27 August 2011 I agree with the expert
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