I am a chartered accountant in practice since more than 35 years and have a very good library of Income Tax Service Tax and Customs books for citations. However, as now, there is no further person in the family to take up my profession, I would like to Donate all of my library to organisation, persons or groups who may be needing these for future purposes. Can you suggest help in this by getting contact numbers or addresses or mails?

Ans: Yes it will be covered in definition of relative and amount received by person will not be considered as Income.

Ans: For income tax purpose, you should execute gift deed and transfer the assets. For execution, please check with consultant or lawyer who deals with it. For transfer of property, you will need help of real estate agent who can guide you in better way.

Ans: First the shares have to be transferred to your name and then you can sell the shares and pay tax
Yes tax has to be paid if any

Ans: Kindly note that benefit under section 80G (Donations made) is not allowed in the New Tax Regime.
Most welcome for any further clarifications. Thanks.

Ans: Your sister-in-law can create a fixed deposit endowment directly in the name of a registered charitable organization without forming a separate trust. Here’s a simple way:

She can choose a reputed NGO or orphanage registered under Section 80G and 12A of the Income Tax Act.

Open a joint FD or donor-specific FD in the NGO’s name with her as the first depositor and the NGO as the second holder or nominee.

Give written instructions to the bank (and NGO) that interest should go to the NGO’s account for 10–15 years.

After her death, the principal automatically transfers to the NGO as the surviving holder or nominee.

This method avoids creating a formal trust yet ensures her wish continues.

To make it binding, she can also mention this in her will, stating the purpose and duration of the donation.

This approach is legally simple, transparent, and fulfils her charitable intent.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

https://www.youtube.com/@HolisticInvestment