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Taxation of Charitable and Religious Trusts (With Special Chapter on Educational Institutions)

Taxation of Charitable and Religious Trusts (With Special Chapter on Educational Institutions)

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Description
About the Book
The first edition of the book "Taxation of Charitable and Religious Trusts" was published in March, 2013. This is the second edition of this book, which has been updated in respect of the relevant provisions of the I.T. Act, 1961, as well as the relevant case-law.
This book contains a comprehensive and systematically arranged commentary on the taxation of charitable and religious trusts or institutions in India. Taxation of charitable and religious trusts is quite complex, from its inception and in the course of time has become more complex and cumbersome, particu¬larly in view of the numerous and randomly introduced amendments.
This book attempts to simplify rationalize and provide an in-depth analysis of the various provisions of the Income-tax Act, 1961, relating to the tax-treatment of charitable and religious trusts in India. It deals with the following important aspects:
1.  Threadbare analysis of the basic provisions of the Act, relating to the tax-treatment of charitable
     and religious trusts, viz, sections 2(15), 11, 12, 12A, 12AAand IB of the Act.
2.  Formation of charitable trusts institutions, including Wakfs.
3.  Detailed analysis of the provisions of section 10(23C) of the Act, relating to exemption of income
      of certain educational and medical institutions and other such charitable institutions.
4.  Separate and detailed discussion, relating to the taxation of educational institutions, by way of a
     separate Chapter thereon, particularly in regard to the justification of acceptance of
     donations by such institutions.
5.  Maintenance and audit of accounts of charitable and religious trusts/institutions.
6.  Assessment of charitable and religious trusts/institutions.
The Author has rich experience in the field of direct taxation, as a senior Indian Revenue Service
(I. R. S.) Officer for a period of twenty-six years and as a professional income-tax advisor to a
number of educational institutions, companies and other taxable entities over a period of more than two-decades. Thus, the commentary in the book combines the experi¬ence of the author as an
officer of the Income-tax Department and also an income-tax advisor..
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  Contents
Chapter 1    Introduction
Chapter 2    Formation, etc. of Public trusts/institutions including wakfs
Chapter 3    Charitable Purpose- Section 2(15)
Chapter 4    Income of fund of national importance or any unversity, educational institution,
                    any hospital, medical institution, Chartiable trust/institution- Section 10(23C)
Chapter 5    Income from property held for Charitable or religious Purpose-Section 11
Chapter 6    Income from trust or institutions from contributions - Section 12
Chapter 7    Condition for applicability of sections 11 and 12 - Section 12A
Chapter 8    Procedure for registration - Section 12AA
Chapter 9    Section 11 not to apply in Cetain Cases - Section 13
Chapter 10  Tax - treatment of Educational Institutions Relating to exemption in
                     respect of thier receipts, under Section 10(23C) and section 11 of
                     The  I.T. Act.1961
Chapter 11  Deduction in respect of donations to certtian funds, charitable
                     institutions, etc.- Section 80G
Chapter 12  Assessment, etc. of charitable and religious trust
Chapter 13  Audit of Accounts of charitable and Religious trusts/Institutions
Chapter 14  Tax treatment of NGOs under the Income-tax Act, 1961
Appendicies
Table of Case Law

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Author Details
Shri S. K. Tyagi is an Advocate and Income-tax Advisor. He passed his M.Sc. (Physics) in 1966, from Allahabad University. Thereafter, he taught post-graduate classes in Physics for sometime. Subsequently, he graduated in Law. In 1968, he was selected as a probationer in the Indian Revenue Service. After completion of his training in the National Academy of Administration, Mussoorie and National Academy of Direct Taxes, Nagpur, he commenced his career as an Assistant Commissioner of Income-tax in the Income-tax Department, Pune. He occupied numerous senior positions in the Income-tax Department in Pune and Mumbai, till 1995. In the same year, he started his consultancy in income-tax at Pune and Mumbai. He has been advising a number of Indian companies, multi-national and foreign companies (mainly based in Pune and Mumbai) on income-tax matters. Nume¬rous articles authored by him have been published in leading income-tax jour¬nals, viz., ITR, CTR and Taxman. During the course of his long and varied career in the Income-tax Department in Pune and Mumbai, he had an opportunity of dealing with various complex issues relating to direct taxes, including taxation of charitable and religious trusts.
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