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Income Tax - Highlights / Catch Notes

Home Highlights November 2014 Year 2014 This

Capital gain on sale of property in the hands of charitable ...


Charitable Society Property Sale: Section 11(1A) Governs Capital Gains Tax, Overriding Section 50C for Trusts.

November 14, 2014

Case Laws     Income Tax     AT

Capital gain on sale of property in the hands of charitable society – Section 11(1A) in itself is a separate specific section which governs the overall taxability of capital gains in a trust and being a specific section it shall prevail over section 50C - AT

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