Question And Answer
Subject: income tax section 11, 12 and 50CA
Querist: R K S
Answered by:
Tags: ,
Date: March 30, 2023
Query asked by R K S

The trust registered u/s 12AA and 80G received unquoted shares as donation and sold the shares by market auction. the sale price was below net worth of shares. whether provisions of section 50CA will be applicable on the trust.

File Uploaded: Not Available

Yes, section 50CA of the Act is an anti-abusive provision which will determine the capital gains in the said transactions. However, the application of the Capital gains i.e., Income can be as per section 11(1A) of the Act.

Disclaimer: This article is only for general information and is not intended to provide legal advice. Readers desiring legal advice should consult with an experienced professional to understand the current law and how it may apply to the facts of their case. Neither the author nor and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any inaccurate or incomplete information in this article nor for any actions taken in reliance thereon. No part of this document should be distributed or copied (except for personal, non-commercial use) without express written permission of
One comment on “income tax section 11, 12 and 50CA
  1. rks says:

    there are judgement that 50c is not applciable to trust as its computation is a separate code, whether this will be applicable to 50 CA

Leave a Reply

Your email address will not be published. Required fields are marked *