About Product
Taxmann’s Trusts & NGOs Ready Reckoner is a practice guide for professionals that features extensive commentary along-with landmark cases, guide on the new registration process & comparative analysis. The Present Publication is the 2nd Edition, authored by Dr. Manoj Fogla, CA Suresh Kumar Kejriwal & CA Tarun Kumar, and amended by the following: The Finance Act 2021 The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 The Income-tax (Sixth Amendment) Rules, 2021 The noteworthy features of this book are as follows: [Exhaustive Commentary] on the new procedure for registration and approval under Section 12AB, 10(23C) and 80G [Practical Guide to File New Forms for Registration and Approval] w.e.f. 01-04-2021 [Comparative Analysis of Registration] under Section 12AB and approval under Section 10(23C) [Practical Guide to File Audit Report] in Form 10B and ITR-7 [Flowcharts & Illlustrations] to explain the law relating to the taxation of NGOs [Landmark Cases] on all controversial issues [Tabular Overview] of the compliances The detailed contents of the book are as follows: Introduction and Legal Framework of NPOs in India Meaning of Charitable Purpose Amendment of Trust Deed New Scheme of Registration under Section 12AB Registration under Section 12AB of the organisation formed without an instrument Practical Guide to Registration under Section 12AB Conditions for claiming exemption under Sections11 and 12 Scope of Income under Section 11 Application of Income Scheme of taxation and computation of income Corpus Donation Inter-Charity Donations Project Grants whether Income Implications of Section 2(24)(xviii) on grant and corpus donation Treatment of Capital Gains Depreciation Business Activity under Section 2(15) Incidental Business and Business held as Trust Property Options available for accumulation of income Set off & Carry Forward of Past Deficit Anonymous Donations Penal Taxation of NGOs Cancellation of Registration Tax on Accreted Income of NGOs Taxation when Exemption is withdrawn or Status is Lost Approval under Section 80G Practical Guide to Approval under Section 80G Tax Implication of CSR Expenditure International Activities of NGOs outside India Audit under Section 12A Practical Guide to Audit under Section 12A Submission of Income-tax Return Practical Guide to file Form ITR-7 Forfeiture of various Incomes under Section 13 Forfeiture - Charitable activity for a particular community Forfeiture - Benefit to Interested Person Forfeiture - Violation Regarding Investment under Section 13(1)(d) Forfeiture - Investment in Section 8 Company and Incubatee companies Overview and Fundamental Concepts under Section 10(23C) Government Funded and Institutions up to aggregate INR 5 Crore Receipts under Section 10(23C) Exemptions and Conditions for Approval under Section 10(23C) Approval and Cancellation under Section 10(23C) Tabular Overview of Compliances under Section 10(23C) Comparative Analysis of section 11 with Section 10(23C) Practical Guide to Approval under Section 10(23C) Mutual Societies Issues Arising out of Income Tax (6th Amendment) Rules, 2021 Religious & Partly Religious Trust
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