Capital gain tax for educational institution

v rao tangudu (Querist) 20 March 2013 This query is : Resolved
sir, registered educational trust sold long term property for clearing term loan (debt) of the college to avoid npa status, trust has got 12 a exemption since its creation, through sale of property trust has gained, the entire gain has been remitted to the term loan of the college, in this context whether the capital gain attracts capital gain or income tax, please suggest. if so what is the process has to proceed with the income tax authorities, please suggest
thanks in advance

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H.M.Patnaik (Expert) 20 March 2013
Dear Querist,
The procedure for computation of long term Capital Gains in the instant case will not undergo any change even on the face of the situation described.