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All QuestionsCategory: Income Tax ComplianceCapital Gains Tax on Donating Immovable Property to Charitable Trust
Profile photo of R AnutamR Anutam asked 2 weeks ago

Capital Gains Tax on Donating Immovable Property to Charitable Trust

Dear Esteemed Colleagues

Kindly help me with the following query:

Facts:

The donor is a Non-Resident Individual. Immovable Property owned by NR was donated to a Charitable Trust in India registered under 12A in FY 2019-20. Charitable Trust has paid the Stamp duty and the property has now been registered in the name of Charitable Trust via Gift Deed.

Query:

Will Capital Gains arise in the hands of NR in India?Kindly also provide the reference of relevant sections/ rules of the Income Tax Act.

Many Thanks

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