Charitable Trusts – Cutting Through The Complexity

This book provides a comprehensive overview of the current landscape of taxability governing charitable trusts, which includes:

• Taxation & Tax Exemptions
• Financials and Regulating Reporting
• Fund Raising & their Compliances

It aims to make its reader aware of the various provisions without using complex legal jargon. All efforts have been made to present the provisions clearly and understandably. This book incorporates the dynamic amendments and court rulings over the last few years that have impacted the functioning of charitable trusts.

This book will be helpful for NGO leaders, finance professionals, and anyone interested in the taxation aspect of the non-profit sector.

The Present Publication is the latest 2023 Edition and has been amended up to October 2023. This book is authored by CA Premal Gandhi and published by Taxmann for The Goods and Services Tax Practitioners' Association of Maharashtra. The detailed contents of this book are as follows:

• Introduction
• Comparative analysis of various salient features of a Trust, Society & Section 8 of Companies Act, 2013
• Definitions, Rights, Duties & Liabilities of a Settlor/Author, Trustee & Beneficiaries
• Provisions applicable to the Charitable Trusts under the Income-tax Act, 1961 for maintenance of books of account and other document
• Amendment of the Trust Deed
• Application of Income
• Corpus Donation and Inter-Charity Donation
• Modes available for Accumulation of Income
• Specified modes of Investment or Deposit under Section 11(5) of the Income-tax Act, 1961
• Anonymous Donations
• Penal Taxation of NGO's
• Summary of Penal Tax Rates
• Forfeiture of various exemptions granted
• Cancellation of Registration
• Tax on Accreted Income of NGO's
• Tax Implications of CSR Expenditure
• Statement of Donations to be filed by Donee Trust [Form 10BD]