Charitable and Religious Trusts and Institutions (AS Amended by the Finance Act, 2022)

A Digest on Formation Administration and Tax Management
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Description
Before one could satisfactorily comprehend and digest the heavy amendments made in the years 2020 and 2021 in the law relating to taxation of charitable trusts, incorporated in the last edition of this book published in April 2021, the Government has come out with heavy showers of further amendments by the Finance Act, 2022 in the law relating to taxation of charitable trusts, and these amendments, as usual, are couched in convoluted terminology which even an expert will find unintelligible, not to say anything of the poor layman managing the charitable trusts and institutions. It is this which has necessitated the bringing out of the present edition of this book As is known, exemption of income of a charitable trust or institution has been governed by two separate sets of provisions, namely, section 10(23C) and sections 11 to 13.
► New Rules & Forms for Registration/Approval
► New Procedure for Registration
► New Procedure for Approval U/S 80G
► New Law for Corpus Donations
► New Law for Computing Application

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Contents
1. Formation of Charity – Available Options
2. Formation of Trust
3. Formation of a Company
4. Society - Registration Procedure
5. Creation of Public Religious Charitable Trust
6. Objects for Charities
7. Responsibilities of Trustee/Management of Charities
8. Educational/Medical Trusts
9. Administration of Public Institutions
10. Charity and Business
11. Charity and Capital Gains
12. Safeguards against Forfeiture of Exemption
13. Special rate of tax on specified incomes of trusts and institutions
14. Investments
15. Registration Procedure
16. Application of Income -- Rules
17. Accumulation of Income Rules
18. Procedural Obligations under Income-tax Law
19. Concessions for Donors.
20. Charities and other laws.
21. Important Precedents on the Subject of Charities.
ANNEXURES
I.   Statutory provisions relevant for Charitable Institutions under the Income Tax Act
II.  Model Deed of Declaration of a Public Religious Trusts
III. Model Deed of Composite Trust
IV. Model Deed of Medical Trust.
V.  Model Deed of Educational Trust Created by a Registered
      Society for Benefit of Scheduled Caste and Tribes and Backward Classes
VI. Foreign Contribution (Regulation) Act, 2010..
VII.The Foreign Contribution (Regulation) Rules, 2011
VIII.The income-tax (6th Amendment) Rules, 2021
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Author Details
S.Rajaratnam
Jignesh R Shah, Born on 12 June 1963 in Mumbal, Jignesh R Shah (B.Com, LLB., FC.A.), Advocate, High Court, is a lawyer and chartered accountant, practicing as counsel before the High Court and the income tax Appellate Tribunal, specializing in  Direct tax laws (including international taxation). He has won many landmark cases which are reported in law journals and newspapers. In a professional career spanning over 37 years, he has authored books: Taxation of Firms and Partners (May 1991 and May 1992) and The WIL & Wisdom of Nani A Palkhivala (September 2015), and has contributed substantially to Kanga & Palkhivala's The Law by Practice of Income Tax (ninth edition-- April 2004). He revised the last April 2021 edition of this book "Law and Procedure on Charitable Trusts and Religious Institutions". He has authored numerous articles published in prestigious law journals and newspapers-in India and abroad, and has contributed many research papers and delivered talks at professional seminars all over India. He writes regular column "Landmark Cases" in Income Tax Reports (ITR) and "Notes & Comments" in ITR's Tribunal Tax Reports (ITR (Trib)).