Trusts
This query is : Resolved
27 April 2020
The Managing Trustee of a Charitable Trust registered U/s 12 AA wishes to make a gift of his immovable Property to the Trust. What will be the tax implication? If he makes it as a corpus donation, I think there won't be any tax liability, is it correct?
28 April 2020
Yes you are right no tax payable. Refer section 56(2)(x) exception.
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