Practical Approach to Taxation and Accounting of Charitable Trusts, NGOs and NPOs (As amended by Fiance Act, 2023)

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Description
I am pleased to bring out the Nine Revised Edition of the book which deals with the provisions of the applicable laws and accounting aspects of Charitable Trusts or Institutions, NGOs and NPOs. The Finance Act, 2022 has made substantial changes in Section 10(23C), Section 11, Section 12A, Section 13, Section 115TD and Section 115TF. New section 271AAE has been inserted. These have been comprehensively discussed in the respective chapters. New chapters Proviso to section 2(15) - Restriction on Trade, Business, Commerce, Conditions for applicability of section 11 and 12, Capitation fees have been added in this edition. Goods & Services Tax Applicability to Charitable Trusts or Institutions has been discussed comprehensively. The requirement of Audit of Accounts and requirement of reporting; each component have been exhaustively discussed. The provisions of the Companies Act, 2013 have been incorporated in the relevant chapters. Amended provisions of the Foreign Contribution (Regulation) Act, 2010 have been incorporated in the book.

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Contents
Division I : Role of NGOs & NPOs
Chapter 1       Significant Role of NGOs, NPOs in India
Division II : Transfer of Income without Transfer of Assets
Chapter 2       Applicability of Sections 60 to 63—Transfer of Income without
                       Transfer of Assets
Division III : Charity and Charitable Purpose
Chapter 3       Charity
Chapter 4       Charitable Purpose
Chapter 5       Relief of the Poor
Chapter 6       Education and Medical Relief
Chapter 7       Advancement of Any Other General Public Utility
Chapter 8       Proviso to Section 2(15) - Registration on Trade, Business, Commerce
Division IV : Formation and Management
Chapter 9       Basics on Formation of Trust or Society or Section 8 Company
Chapter 10     Formation of a Trust
Chapter 11     Formation of a Society
Chapter 12     Formation of Section 8 Companies
Division V : Registration and Procedure for Registration
Chapter 13     Conditions for Applicability of Sections 11 and 12
Chapter 14     Registration of Trusts Under Section 12A
Chapter 15     Procedure for Registration of Trust or Institution under Section 12AA
Division VI : Breach of Trust and Rectification of Trust Deed
Chapter 16     Breach of Trust
Chapter 17     Rectification or Amendment of Trust Deed
Division VII : Income and Application of Income
Chapter 18     Limbs of Section 11
Chapter 19     Trust Property
Chapter 20     Legal Obligation — Trust Includes Legal Obligation
Chapter 21     Income of Charitable or Religious Trusts or Institutions
Chapter 22     Application of Income
Chapter 23     Prescribed Mode of Investment [Section 11(5)]
Chapter 24     Accumulation of Income
Chapter 25     Filing of Form 9A and Form 10
Chapter 26     Depreciation
Chapter 27     Consequences of Failure under Section 11(1B), 11(3) and 11(3A)
Division VIII : Forfeiture of Exemptions
Chapter 28     Overview of Forfeiture of Exemption
Chapter 29     Person Specified under Section 13(3
Chapter 30     Forfeiture of Exemption-I
Chapter 31     Forfeiture of Exemptions-II, Failure to Invest in a Mode Specified
Chapter 32     Forfeiture of Exemption-Ill, Income or Property of the Trust Applied for Specified Persons
Chapter 33     Deemed Restricted User [Section 13(2)(a)-13(2)(h)]
Division IX : Voluntary Contributions (Donations)
Chapter 34     Voluntary Donations
Chapter 35     Voluntary Contributions (Donations) Corpus Donations
Chapter 36     Voluntary Contribution — Anonymous Donation
Division X : Business Held in Trust
Chapter 37     Business Held under Trust — Section 11 (4)
Chapter 38     Exemption of Business Income under Section 11(4A)
Division XI : Donor's Benefit
Chapter 39     Section 80G Donations
Chapter 40     Donations for Eligible Projects or Schemes
Chapter 41     Inter-Charity Donations
Chapter 42     Identity of Donor
Division  XII : Capital Gains for Charitable Trusts or Institutions
Chapter 43     Capital Gains of Charitable or Religious Trusts or Institutions
Chapter 44     Case Studies in Computation of Capital Gains
Division XIII : Method of Accounting, Audit of Accounts of Charitable Trust,
                          Assessment of Charitable Trusts or Institutions
Chapter 45     Basis of Accounting and Accounting Aspects
Chapter 46     Accounting Standards Applicable to NPOs, NGOs, Charitable Trusts or Institutions
Chapter 47     Audit of Accounts of Charitable Trusts or Institutions
Chapter 48     Permanent Account Number
Chapter 49     Tax Deduction Account Number
Chapter 50     Filing Return of Income
Chapter 51     Assessment of Charitable Trusts or Institutions.
Chapter 52     Principle of Mutuality
Chapter 53     Assessment of AOP/BOI
Division XIV : Taxation
Chapter 54     Taxation of Charitable or Religious Trusts or Institutions
Chapter 55   Accreted Income - Tax on Charitable Trust or Institution when it
                         Ceases to Exist
Chapter 56   Surplus is a Bar to Claim Exemption for Charitable or Religious Trust or
                          Institution under Income Tax Act, 1961?
Chapter 57    Capitation Fees
Chapter 58     How to Compute Income of Charitable or Religious Trusts or Institutions
Chapter 59     Set Off and Carry Forward of Losses
Chapter 60     Wealth Tax Act, 1957, Relating to Charitable Trusts or Institutions.
Division XV : Income Excluded
Chapter 61   Income of University or Other Educational Institutions under Section 10(23C)
Chapter 62   Income of Hospital or Other Institutions under Section 10(23C
Chapter 63     Requirements as per Provisos to Section 10(23C) Applicable to Educational
                         and Medical Institutions
Chapter 64     Excluded Income and Agricultural Income
Chapter 65     Project Grants, Grants-in-aid - Accounting and Disclosures
Division XVI : Corporate Governance
Chapter 66     Corporate Governance
Chapter 67     Meetings and Resolutions
Division XVII : FCRA, International Activity, Liaison and Branch Office
Chapter 68     Foreign Trust and Activities in India
Chapter 69     Foreign Trust and International Activity
Chapter 70     Liaison and Branch Office of Foreign Trust or Institution - Activities in India
 Division XVIII : Important Circulars, Acts
Chapter 71     Important CBDT Circulars
Chapter 72     Prevention of Money Laundering Act, 2002 (PMLA)                                                                         
Division XIX : Specimen of Deeds
Chapter 73     Specimen of Trust Deed
Chapter 74     Specimen of Memorandum and Bye-Laws of Society
Chapter 75     Specimen of Memorandum and Articles of Association of Section 8 Company
Division XX : Service Tax and Corporate Social Responsibility
Chapter 76    Goods & Services Tax Applicability to Charitable Trusts or Institutions
Chapter 77     Corporate Social Responsibility
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Author Details
CA(Dr.) 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 India
ii)   NGOs, NPOs, legal systems and practices in India
He has authored few books and several articles on varied topics relating to corporate laws and taxation.
Assisted by
CA. Nandini Suresh
CA. Preethi B
Srishti Suresh
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