Trusts & NGOs Ready Reckoner
This book explains the tax implications during the life cycle of a charitable trust, starting from incorporation, registration, maintenance of books of account, scheme of taxation, computation of income, filing of the income-tax return, audit report, cancellation of registration, forfeiture of exemption, etc. It contains an extensive discussion of the provisions of the Income-tax Act, tutorials and guides on filing various forms under the Act.
This book is an essential resource for anyone interested in the legal landscape surrounding trusts & NGOs, containing a comprehensive collection of landmark rulings on all controversial issues.
The Present Publication is the 4th Edition and has been amended by the Finance Act 2023. This book is authored by Dr Manoj Fogla, CA Suresh Kumar Kejriwal & CA Tarun Kumar Madaan, with the following noteworthy features:
[Clear & Accessible Language] is followed throughout this book
[Analysis & Impact of Amendments] by the Finance Act 2023
[Exhaustive Coverage of the Registration & Approval Process] under the following Sections:
Section 12AB
Section 10(23C)
Section 80G
[Explanation to the Scheme of Taxation & Computation of Income] of NGOs
[Practical Guide] for the following:
Filing Registration Application in Form No. 10A and Form No. 10AB
Filing of Statements of Donations in Form No. 10BD
Filing of Audit Reports in Form 10B and Form 10BB
[Flowcharts & Illustrations] explaining the law relating to the taxation of NGOs
[Landmark Rulings] on all controversial issues
[Tabular Overview of Compliances] has been provided in this book
[Impact Analysis of Supreme Court Rulings] in the case of New Noble Educational Society [2022] 143 taxmann.com 276 (SC) and Ahmedabad Urban Development Authority [2022] 144 taxmann.com 78 (SC)
| Chapter No | Chapter name |
|---|---|
| Chapter 1 | Introduction and Legal Framework of NPOs in India |
| Chapter 2 | Meaning of Charitable Purpose |
| Chapter 3 | Amendment of Trust Deed |
| Chapter 4 | New Scheme of Registration under Section 12AB |
| Chapter 5 | Registration under Section 12AB of the organisation formed without an instrument |
| Chapter 6 | Practical Guide to Registration under Section 12AB |
| Chapter 7 | Conditions for claiming exemption under Sections11 and 12 |
| Chapter 8 | Scope of Income under Section 11 |
| Chapter 9 | Application of Income and |
| Chapter 10 | Scheme of taxation and computation of income Corpus Donation |
| Chapter 11 | Corpus Donation |
| Chapter 12 | Inter-Charity Donations |
| Chapter 13 | Project Grants whether Income |
| Chapter 14 | Implications of Section 2(24)(xviii) on grant and corpus donation |
| Chapter 15 | Treatment of Capital Gains |
| Chapter 16 | Depreciation |
| Chapter 17 | Business Activity under Section 2(15) |
| Chapter 18 | Incidental Business and Business held as Trust Property |
| Chapter 19 | Options available for accumulation of income |
| Chapter 20 | Set off & Carry Forward of Past Deficit |
| Chapter 21 | Anonymous Donations |
| Chapter 22 | Penal Taxation of NGOs |
| Chapter 23 | Cancellation of Registration |
| Chapter 24 | Tax on Accreted Income of NGOs |
| Chapter 25 | Taxation when Exemption is withdrawn or Status is Lost |
| Chapter 26 | Approval under Section 80G |
| Chapter 27 | Practical Guide to Approval under Section 80G |
| Chapter 28 | Tax Implication of CSR Expenditure |
| Chapter 29 | International Activities of NGOs outside India |
| Chapter 30 | Audit under Section 12A |
| Chapter 31 | Practical Guide to Audit under Section 12A |
| Chapter 32 | Submission of Income-tax Return |
| Chapter 33 | Practical Guide to file Form ITR-7 |
| Chapter 34 | Forfeiture of various Incomes under Section |
| Chapter 35 | Forfeiture - Charitable activity for a particular community |
| Chapter 36 | Forfeiture - Benefit to Interested Person |
| Chapter 37 | Forfeiture - Investment in Section 8 Company and Incubatee companie |
| Chapter 38 | Forfeiture - Violation Regarding Investment under Section 13(1)(d) |
| Chapter 39 | Overview and Fundamental Concepts under Section 10(23C) |
| Chapter 40 | Government Funded and Institutions up to aggregate INR 5 Crore Receipts under Section 10(23C) |
| Chapter 41 | Exemptions and Conditions for Approval under Section 10(23C) |
| Chapter 42 | Approval and Cancellation under Section 10(23C) |
| Chapter 43 | Tabular Overview of Compliances under Section 10(23C) |
| Chapter 44 | Comparative Analysis of section 11 with Section 10(23C) |
| Chapter45 | Practical Guide to Approval under Section 10(23C) |
| Chapter 46 | Mutual Societies |
| Chapter 47 | Issues Arising out of Income Tax (6th Amendment) Rules, 2021 |
| Chapter | Religious & Partly Religious Trust |
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
Will update soon
