Contents
PAGE
Vision Statement
I-5
About the Goods & Services Tax Practitioners' Association of Maharashtra (GSTPAM)
I-6
Preface of the Book
I-8
President Message
I-9
Chairman’s Message
I-10
Managing Committee 2023-24
I-11
Chapter 1
Introduction
1
Chapter 2
Comparative analysis of various salient features of a Trust, Society & Section 8 of Companies Act, 2013
5
Chapter 3
Definitions, Rights, Duties & Liabilities of a Settlor/Author, Trustee & Beneficiaries
9
Chapter 4
Provisions applicable to the Charitable Trusts under the Income-tax Act, 1961 for maintenance of books of account and other document
14
Chapter 5
Amendment of the Trust Deed
20
Chapter 6
Application of Income
22
I-13
I-14
CONTENTS PAGE
Chapter 7
Corpus Donation and Inter-Charity Donation
25
Chapter 8
Modes available for Accumulation of Income
34
Chapter 9
Specified modes of Investment or Deposit under section 11(5) of the Income-tax Act, 1961
37
Chapter 10
Anonymous Donations
41
Chapter 11
Penal Taxation of NGO’s
43
Chapter 12
Summary of Penal Tax Rates
46
Chapter 13
Forfeiture of various exemptions granted
47
Chapter 14
Cancellation of Registration
51
Chapter 15
Tax on Accreted Income of NGO’s
54
Chapter 16
Tax implications of CSR Expenditure
56
Chapter 17
Statement of Donations to be filed by Donee Trust [Form 10BD]
59
Don't Hesitate to contact me here
62
Future Vision
63
APPENDICES Appendix 1: Section numbers applicable to NGO as per Income-tax Act
67
Appendix 2: Form numbers applicable to NGO as per Income-tax Act
74
Appendix 3: Form No. 9A
75
CONTENTS
I-15 PAGE
Appendix 4: Form No. 10
77
Appendix 5: Form No. 10AC
79
Appendix 6: Form No. 10AD
81
Appendix 7: Audit Report in Form No. 10B
83
Appendix 8: Form No. 10BA
110
Appendix 9: Audit Report in Form No. 10BB
111
Appendix 10: Form No. 10BD
120
Appendix 11: Form No. 10BE
122
Appendix 12: Income-tax Return - ITR 7
123
Appendix 13: Draft Minutes
156
Appendix 14: Draft Board Resolution Format for General Matters
157
Appendix 15: Draft Board Resolution Format for Bank Matters
158
Appendix 16: Specimen Corpus Donation
159
CHARITABLE TRUSTS – CUTTING THROUGH THE COMPLEXITY AUTHOR
:
THE GOODS & SERVICES TAX PRACTITIONERS' ASSOCIATION OF MAHARASHTRA , PREMAL GANDHI
PUBLISHER
:
TAXMANN
DATE OF PUBLICATION
:
OCTOBER 2023
EDITION
:
2023 Edition
ISBN NO
:
9789357788137
NO. OF PAGES
:
176
BINDING TYPE
:
PAPERBACK
Rs. 475
DESCRIPTION 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 Publications 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]
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