KEY FEATURE1. Updated to cover necessary provisions of the Companies Act, 20132. Detailed discussion on the formation of Trusts/Societies/Section 25 Companies3. Discussion on how to compute income of trusts or institutions with specific examples4. Broad insights on ‘Principle of Mutuality’ with examples5. Overview of Accounting Standards with accounting policies as applicable to charitable trusts or institutions6. Detailed discussion on voluntary contributions, corpus donations, anonymous donations and capital gains with supporting case laws and illustrative examples7. Provisions of Foreign Contribution (Regulation) Act, 2010 with frequently asked questions8. Activities of charitable trusts, institutions, NGOs and NPOs in India and outside in the form of Branch Offices and Liaison Offices9. Covers important CBDT circulars, notifications and instructions as applicable to charitable trusts or institutions10. Provides specimen of trust deeds, bye-laws of societies and MOA & AOA of Section 25 companies11. Recap at the end of each chapter giving a bird’s eye view12. Comprehensive practical illustrations of complex topics for better understanding COVERING1. Formation, registration, procedural compliances, taxation and assessment with practical illustrations of complex topics2. Basics of Accounting, accounting treatments, disclosures, policies and practical aspects CONTENTPreface About the Author Detailed ContentsDivision I Overview of DTCDivision II Transfer of Income Without Transfer of AssetsDivision III Charity and Charitable PurposeDivision IV Formation and ManagementDivision V Registration and Procedure for RegistrationDivision VI Breach of Trust and Rectification of Trust DeedDivision VII Income and Application of IncomeDivision VIII Forfeiture of ExemptionsDivision IX Voluntary Contributions (Donations)Division X Business Held in TrustDivision XI Donor’s BenefitDivision XII Capital Gains for Charitable Trusts or InstitutionsDivision XIII Method of Accounting, Audit of Accounts of Charitable Trust, Assessment of Charitable Trusts or InstitutionsDivision XIV TaxationDivision XV Income ExcludedDivision XVI Corporate GovernanceDivision XVII FCRA, International Activity, Liaison and Branch OfficeDivision XVIII Important Circulars, ActsDivision XIX Specimen of DeedsDivision XX Service TaxTable of Cases Subject Index ABOUT THE BOOKThis book is an exhaustive commentary on the provisions of Income Tax Ad, 1961, Companies Act, 19S6 and Companies Act, 2013 for Charitable trusts or Institutions,NGOs and NPOs. This would be a useful reference for tax and accounting professionals associated with these Institutions. This book helps the professionals and staff of these Institutions In their day-to-day activities as all tax and regulatory provisions are given in-depth coverage. Complex situations are explained with supporting case laws and Illustrative examples.ABOUT THE AUTHORDr. N Suresh is a Graduate in Commerce from Bangalore University and a Fellow Member of the Institute of Chartered Accountants of India. He did his PhD on the following subjects:i) Taxation system and practices in Indiaii) NGOs, NPOs, legal systems and practices in IndiaHe has authored few books and several articles on varied topics relating to corporate laws and taxation. He has presented several papers and given lectures at seminars and conferences conducted by the professional bodies, study circles, various branches of Institute of Chartered Accountants of India, Committee of ‘Co-operative and NPOs sectors of the Institute of Chartered Accountants of India. He is a Special Invitee on the Committee for ‘Co-operative and NPOs sectors of the Institute of Chartered Accountants of India. He actively participates in various public forums addressing various issues. He was a visiting faculty at the National Academy of Direct Taxes, Nagpur and DRTI, Bangalore and Chennai. He is also a vocalist in Carnatic Music and specializes in K.P. Astrology.
2nd Edition , 2015