ASSETS RECEIVED UNDER GIFT – Where A acquired agricultural lands in 1961, and after converting them into non-agricultural use in 1962 gifted the lands to B in 1966, and later B sold them, the cost of acquisition under section 49(1)(ii) would be the amount originally paid by A, and not the value on the date of conversion or on the date of gift
Notification No- S.O.2860 – Income Tax In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” The Indian National Trust for Art and Cultural Heritage “, for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88
Notification No- S.O.2859 – Income Tax In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” Krishnamurti Foundation India, Madras “, for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88
Notification No- S.O.1210 – Income Tax In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” Dohnavur Fellowship “, for the purpose of the said section for the period covered by the assessment years 1983-84 to 1985-86
