Tax Benefit

Prasanna Kumar (AFM) (103 Points)

21 July 2010  

A company has some assets. It wants to sell them to other entities at cost. Kindly tell me the various tax implications, especially from tax benefit point of view to the company under following circumstances..,

1) When it sells to Charitable Trust

2) When it sells to Religious Charitable Trust

3) When it sells to a Company

4) When it sells to all the above during FY 2009-10 and during FY 2010-11 (please note that the company has bought them during FY 2009-10.)

Thanks for sharing your opinion, in advance!