Law and Procedure on Charitable Trusts and Religious Institutions

An indispensable guide relating to tax & other matters for voluntary agencies
As Amended by the Finance Act, 2022
.............................................................................................................................
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.
.............................................................................................................................
Contents
1.  Charitable Objects - I
2.  Charitable Objects - II
3.  Charitable Objects - III
4.  Objects which are not charitable
5.  Property held under legal obligation
6.  Form of organisations
7.  Modalities for creation of Trust
8.  Trust Deed - Essentials in the document
9.  Rectification of Deeds
10. Income of a Charitable Institution
11. Application of Income
12. Accumulation of Income
13. Circulars and Precedents on Application/Accumulation
14. Charity and Business — Some Instances - I
15. Charity and Business — Some Instances - II
16. Charities and Capital Gains
17. Permissible Investments
18. Registration
19. Public Institutions v. Private Benefits - an overviews
20. Forfeiture of Exemption - I
21. Forfeiture of Exemption - II
21A.Exempt Income Brought Back for Tax as Accreted Income
22. Scientific Research Associations
23. Public Institutions/Sections 10(22), 10(22A) and 10(23C) – I
24. Public Institutions/Sections 10(22), 10(22A) and 10(23C) - II
25. Public Institutions/Sections 10(22), 10(22A) and 10(23C) - III
26. Other Public Institutions exempt under Section 10
27. Charities and Donors
28. Assessment Procedure
29. Charities and Wealth Tax
30. Miscellaneous Issues
31. Public Religious Trust — Some Issues
32. Charities and TDS
33. Charities and Foreign Contributions (Regulation) Act, 1976.
34. Charities and Foreign Trade (Development and Regulation) Act, 1992
Annexure
I.  Model Deed of Declaration of a Public Religious Trusts
II. Model Deed of Composite Trust
III. Model Deed of Medical Trust
IV. Model Deed of Educational Trust Created by a Registered Society for
    Benefit of Scheduled Caste and Tribes and Backward Classes
V. Draft deed of Declaration of Trust Education Trust
VI. Income Tax (6th Amendment) Rules, 2021
Subject Index
.............................................................................................................................
Author Details
S. RAJARATNAM, MA, LL.M., F.C.M.A., (born on 15.6.1928) formerly of Indian Revenue Service, retired as Accountant Member of Income-tax Appellate Tribunal in 1985. During his service, he was deputed to Srilanka as Tax Expert and to Government of Tamil Nadu as Member of Sales-tax and Agricultural Income-tax Appellate Tribunals. He is a columnist for a bi-monthly column "Landmark Cases" in Income Tax Reports, "Notes and Comments" in ITR's Tribunal Tax Reports and a monthly column for Management Accountant. He has authored several books, among which are "Tax Management","Tax Valuation", "Corporate Taxation", "Transfer Pricing" and "Landmark Cases" by Company Law Institute of India Pvt. Ltd. Chennai and "Tax Planning" published by Bharat Law Publications, Jaipur, besides books on MAT, Charities and Double Tax Avoidance Agreements published by Snow White Publications Pvt. Ltd. Mumbai. He has also revised Sampath lyengar's "Law of Income Tax" (11th Edition in 8 Volumes).
Jignesh R Shah, Born on 12 June 1963 in Mumbai, Jignesh R Shah (B.Com, LL.B., EC.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 news papers. In a professional career spanning over 37 years, he has authored books: Taxation of Firms and Partners (May 1991 and May 1992) and The Wit & Wisdom of Nani A Palkhivala (September 2015), and has contributed substantially to Kanga & Palkhivala's The Law & 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)]