Plz tell me about the taxability in the hand of company and trust if a company transfer its land by way of gift to a trust.also tell me about any tax planning in this case
03 February 2015
Company can get tax benefits up to 50% of value of gift u/s 80G if donation given to charitable trust registered u/s 12AA of income tax and approved u/s 80G. See the link for more details. http://www.investmentyogi.com/taxes/tax-deduction-under-section-80g-for-donations-towards-social-causes.aspx