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

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