CAPITAL GAIN
Debashis Saha
(Querist) 12 May 2009
This query is : Resolved
Mr X , owner of several residential House Properties, transfered one of his house property to a Private Trust,( Mr X is the settler, but not a direct beneficiary)) created for the benefit of his family membersm, by a Regitered Deed of transfer, with a stipulation to enjoy the income, if any, arising from the said property, at his choice. Whether a sebsequent sale of the said property by the trust to any 3rd party will give rise to a Capital Gain and if so in whose hand the Gain should be included and taxable
A V Vishal
(Expert) 12 May 2009
The sale by the trust will give rise to capital gains to the trust
Debashis Saha
(Querist) 13 May 2009
Dear Mr. Vishal
Thank you very much for your valuable opinion.
A V Vishal
(Expert) 15 May 2009
The query is resolved
