Tax on donations made to a private trust in the shares

Gaurav Chhabra (Querist) 08 September 2010 This query is : Resolved
Dear Friends,

Kindly reply to this queries:

1.Is a donation by way of shares by an individual to a private trust taxable?

2.Can an Indian National donate amount to foreign trust? If yes upto what amount.

3.Can an Indian National send the fund to his/her child working abroad for buying car there? If yes upto what amount.

4.Will a WILL supercede nominations?

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soumitra basu (Expert) 09 September 2010
Answers :
1. No. In the hands of the trust.
2. Yes, there is no limit.
3. Yes, you have to take permission from Reseve Bank of India.
4. Yes