Taxmann Charitable Trust Law and Procedure A Ready Reckoner By The Chamber of Tax Consultants Edition March 2024

This book is a curated collection of 15+ incisive, in-depth, high-quality articles focused on the nuances of charitable trusts. Authored by a diverse group of more than 15 tax professionals, the content spans a year’s worth of research and insights, aimed to address the complex and litigated issues surrounding Charitable Trusts, such as:

• Exemption Denials
• Registration Challenges
• Procedural Law Violations

This book will be helpful for professionals, trustees, directors, and committee members involved in charitable trusts, as well as anyone interested in their formation and management.

The Present Publication is the Latest Edition, commissioned by The Chambers of Tax Consultants and published exclusively by Taxmann. The book was developed under the leadership of the Research and Publication Committee, including Mr. Haresh Kenia (President) and Mr. Ashok Mehta (Chairman), along with notable advocates and chartered accountants. The book is the brainchild of Adv. Rahul Hakani (Ex-Chairman) and Adv. Paras Savla (Co-Chairman). It incorporates the latest case laws and practical guidance. The key points of this book are as follows:

[Comprehensive Coverage] This book is organised to cover every aspect of a charitable trust, including:

• Formation
• Registration
• Taxation
• Compliance
• Latest Legal Amendments

[Controversial Issues] This book also analyses specific areas such as:

• Trustee Roles and Responsibilities
• Foreign Contribution Regulation Act Compliance
• GST Law Implications
• Corporate Social Responsibility
• Stamp Duty Act Applicability
• Accounting And Auditing
• Detailed Guidelines For Trustees
• Concept of the Social Stock Exchange

The detailed coverage of the book is as follows:

• Maharashtra Public Trust Act, 1950 and Gujarat Public Trust Act, 2011 – An Overview
  • Author – Mrs. Shruti Desai | Advocate
• Charitable or Religious Institution – Registration under Income-tax Act, 1961
  • Authors – Paras K. Savla and Prity Dharod | Chartered Accountants
• Registration of Charitable Entities Under Section 80G of the Income-tax Act, 1961
  • Authors – Paras K. Savla and Prity Dharod | Chartered Accountants
• Charitable Trusts – Roles and Responsibilities of Trustees under the Maharashtra Public Trusts Act, 1950
  • Authors – Anil Harish and Gautam Thacker | Advocates
• Charitable Trusts – Relevant Provisions of Foreign Contribution Regulation Act, 2010 and Foreign Exchange Management Act, 1999
  • Author – CA Paresh P. Shah
• Charitable Purpose – Section 2(15)
  • Author – Gautam Nayak | Chartered Accountant
• Charitable Trusts – Recent Development in Tax Law Relating to Charitable Trusts – Institutions
  • Author – Samir N. Divatia | Advocate
• Charitable Trusts – Denial of Exemption – Sections 12 and 13 of the Income-tax Act, 1961
  • Author – CA Anil Sathe
• Exit Tax on Accreted Income of Certain Trusts and Institutions under Sections 115TD to 115TF
  • Authors – CA R. S. Kadakia and Adv. Aditya Y. Bhatt
• Charitable Trusts – Goods and Services Tax Act, 2017
  • Authors – C.B. Thakar and Rahul C Thakar | Advocates
• Charitable Trusts – Accounting Issues – Responsibilities of Trustees and Auditors
  • Authors – Nilesh Vikamsey and Rajesh Naker | Chartered Accountants
• Charitable Trusts – Do’s and Don’ts for Trustees
  • Author – Vipin Batavia | Chartered Accountant
• Charitable Trusts – Alienation of Immovable Property u/s 36(1)(a) of the Maharashtra Public Trusts Act, 1950 vis-a-vis the Gujarat Public Trusts Act, 1950
  • Author – CA. (Dr.) Gautam Shah | Chartered Accountant
• Corporate Social Responsibility (CSR)
  • Author – CA Vipin Batavia
• Applications under the Income-tax Act, 1961 to Authorities, i.e., Central Board of Direct Taxes (CBDT) and Commissioner of Exemption [CIT(E)]
  • Authors – Shri K. Gopal and Jitendra Singh | Advocates
• Charitable Trusts – Applicability of Stamp Duty Provisions
  • Author – Dr. Anup P. Shah | Chartered Accountant
• Charitable Trusts – Return of Income
  • Author – Jagat G. Mehta | Chartered Accountant
• A Quick Guide on India’s Social Stock Exchange
  • Author – CA. Arati Pai – Muranjan

About the author

The Chamber of Tax Consultants

The Chamber of Tax Consultants (The Chamber) was established in 1926 and is one of the oldest voluntary non-profit professional organisations. It is the voice of more than 4,000 professionals on a pan-India basis. Its members comprise Advocates, Chartered Accountants, Company Secretaries, Cost Accountants, Corporates, Tax Consultants and Students.

The Chamber, despite its vintage, is a young, dynamic organisation having a glorious past and an undisputedly ambitious future. The Chamber is a well-respected institution with high integrity, independence and professional tradition.

The Chamber acts as a powerhouse of knowledge in fiscal law, always proactive in contributing to the development of law and profession through research and analysis, dissemination of knowledge and proactive interaction with policymakers. The Chamber also provides professionals with several networking opportunities through interactive meetings and seminars.

Professional luminaries like Late Shri B. C. Joshi, Late Shri V. H. Patil, Dr Y. P. Trivedi, Shri S. E. Dastur, Late Shri D. M. Harish, Late Shri Narayan Varma, Dr K. Shivaram, Shri S. N. Inamdar, have been The Chamber’s Presidents.

For The Chamber, education is the supreme power, and the spread of education is its motto.

The Chamber strives to be pre-eminent in upholding a tradition of excellence in service and principled conduct with social responsibility among professionals. The various initiatives of The Chamber are listed below:

• Knowledge sharing initiatives
• The Chamber’s Journals and CTC Newsletter
• International Tax Journal
• Representation before Regulatory Authorities and Public Interest Litigations
• The Chamber’s Library and Website
• Initiative for Student Members