Part I -- Introductory |
1
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| 1 Trusts and Its Kind |
2
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| 2 Wakf : The Mohammaden Trusts |
6
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| 3 Religious Trusts, Endowment, Etc. |
9
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| 4 Public and Private Temples |
15
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| 5 Settlor, Trustee and Beneficiary |
19
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| 6 Trust Property |
24
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| 7 Transfer of Trust Property to Trustees |
27
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| 8 Trust Management |
33
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| 9 Income Tax Provisions Governing Charitable Trusts, Funds, Exempt Institutions and NGO |
36
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Part II -- Public Charitable Trusts or Institutions |
39
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| Section A : Charitable Purpose |
40
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| 10 Charitable Purpose -- Meaning and Relevance of |
40
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| 11 Relief to Poor as Charitable Purpose |
43
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| 12 Education and Yoga as Charitable Purpose |
48
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| 13 Medical Relief as Charitable Purpose |
64
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| 14 Preservation of Environment, Monuments, Etc. as Charitable Purpose |
69
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| 15 Any Other Object of General Public Utility in Section 2(15) |
71
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| Section B : Exemption to Charitable Trusts and Institutions |
111
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| 16 Exemption When Available to Charitable Trust/Institution under Section 11 |
111
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| 17 Property Held Under Trust in Section 11 |
124
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| 18 Property Held Under Legal Obligation Vis-a-Vis Section 11 read with Explanation 1 to Section 13 |
133
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| 19 Accumulation or Setting Apart of 15 Percent Income |
138
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| 20 Application of Income -- Condition Precedent for Availing of Exemption |
147
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| 21 Expenditure Regarded as Application of Income |
173
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| 22 No Set Off of Excess Expenditure in Earlier Year Against Income of Subsequent Year |
182
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| 23 Option Available Under Explanation 1(2) to Section 11 |
187
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| 24 Treatment of Capital Gains of Charitable Trust |
192
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| 25 Accumulation or Setting Apart of Income under Section 11(2) |
207
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| 26 Condonation of Delay in Filing Form No. 9A and Form No. 10 -- Whether Permissible |
229
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| 27 Permissibility of Inter Trust Donation |
234
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| 28 Treatment of Corpus Donation in Hands of Charitable Trusts and Institutions |
240
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| 29 Treatment of Voluntary Contribution Received for Renovation, Repairs of Temples, Mosques, Etc. |
256
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| 30 Consequences of Non-Compliance of Specific Provision |
258
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| 31 Treatment of Business Income |
267
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| 32 Modes Prescribed under Section 11(5) for Investment by Charitable Trusts and Institutions |
301
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| 33 Miscellaneous Issues as to Exemption under Section 11 |
315
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| 34 Maintenance of Books of Accounts and Audit thereof by Charitable Trusts -- One of the Condition for Availing of Exemption |
327
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| Section C : Procedure for Registration of Charitable Trusts/Institutions |
336
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| 35 Mandatory Registration by Charitable Trusts and Institutions for Availing of Exemption |
336
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| 36 Procedure for Registration under Section 12AB read with Section 12A(1)(ac) |
343
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| 37 Procedure for Registration by Trusts and Institutions Already Registered Under Earlier Provision |
347
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| 38 Procedure for Provisional Registration by Newly Established Organisations |
352
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| 39 Procedure for Renewal of Registration Granted under Section 12AB |
356
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| 40 Registration Procedure Under Certain Other Circumstances |
358
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| 41 Cancellation of Registration Granted under Section 12AB |
363
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| 42 New Procedure for Registration and Re-registration -- In Nutshell |
367
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| 43 Faceless Approval or Registration Scheme |
374
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| 44 Registration Under Erstwhile Section 12AA as Applicable upto 31-3-2021 |
375
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| 45 Cancellation of Registration of Charitable Trusts Granted under Section 12AA [As Operative upto 31-3-2021] |
379
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| 46 Impact of Voluntary Surrender of Registration |
413
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| 47 Automatic Grant of Registration under Section 12AA on Failure to Take Action by Pr. Commissioner or Commissioner on Application Within Six Months |
421
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| 48 Issues Arising While Granting or Rejecting Registration Application |
427
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| Section D : Computation of Income by Trusts/Institutions |
492
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| 49 Income of Charitable Trusts -- Computation Thereof |
492
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| 50 Applicability of Disallowance Provision Vis-a-Vis Charitable Trusts |
509
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| 51 Income by Voluntary Contribution |
514
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| 52 Treatment of Government Grant Received by Charitable Trusts and Institutions |
524
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| 53 Taxation of Anonymous Donations |
531
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| 54 Anonymous Donation Vis-a-Vis Applicability of Section 68 |
541
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| 55 Computation of Income in Case of Certain Violations by Trusts or Institutions Registered under Section 12AB |
545
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| Section E : Forfeiture of Exemption |
548
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| 56 Forfeiture of Exemption -- Overview of Section 13 |
548
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| 57 Bar in Respect of Trust for Benefit of Specific Religious Community [Section 13(1)(b)] |
554
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| 58 Benefit to Interested Persons Causing Bar to Exemption [Section 13(1)(c)] |
564
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| 59 Investment of Trust Funds in Other Than Specified Media as Barring Exemption [Section 13(1)(d)] |
596
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| 60 Bar Due to Deemed User of Trusts Income by Interested Persons [Section 13(2)] |
616
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| 61 Interested Persons in Section 13(1)(c) [Section 13(3)] |
638
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| 62 Case Studies Relevant to Issues Regarding Section 13(3) |
648
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| 63 Unreasonable Benefit to Trustees or Other Specified Persons Attract Penalty under Section 271AAE |
653
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| Section F : Filing of Return and Taxation of Charitable Trusts |
657
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| 64 Filing of Return of Income by Trusts or Institutions |
657
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| 65 Income Taxation of Charitable Trusts or Institutions |
667
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| 66 Taxation of Certain Income of Trusts or Institutions at Special Rate under Section 115BBI |
677
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| 67 Tax on Accreted Income of a Charitable Trust/Institution |
683
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| 68 Common Areas of Enquiry by Department While Handling Assessment of Charitable Trusts/Institutions |
688
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| Section G : Trust Deeds -- Preparation and Samples |
692
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| 69 Constitution of Charitable Entity Via Trust Deed -- Governing Principles |
692
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| 70 Specification of Objects in Charitable Trust Deed |
704
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| 71 Preparation of Charitable Trust Deed and Sample Deeds |
714
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Part III -- Trusts, Funds, Educational and Medical Institutions Exempt Under Section 10(23C) |
737
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| Section A : Exemption Under Clauses (iiiab) to (via) of Section 10(23C) |
738
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| 72 Fund or Institutions Claiming Exemption under Section 10(23C)(iv)/(v) |
738
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| 73 Educational Institutions Claiming Exemption under Section 10(23C) |
752
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| 74 Medical Institutions Claiming Exemption under Section 10(23C) |
761
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| 75 Exemption to Educational and Medical Societies |
767
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| 76 Exemption under Section 11 or under Section 10(23C) or under Section 10(46) |
770
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| 77 Conditions for Availing of Exemption by Educational Institutions |
773
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| 78 No Denial of Exemption on Ground of Generation of Surplus |
801
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| 79 Filing of Return by Educational and Medical Institutions Claiming Exemption under Section 10(23C) |
807
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| 80 Investigation and Verification by Department in Case of Educational Institutions |
811
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| Section B : Procedural Aspects and Requirement of Various Provisos to Section 10(23C) |
814
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| 81 Overview of Provisos to Section 10(23C) Vis-a-Vis Exemption to Institutions Claiming Exemption under Section 10(23C) |
814
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| 82 Procedure Regarding Approval by Trusts and Institutions Claiming Exemption under Section 10(23C) [As Applicable from 1-4-2021] |
828
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| 83 Scheme for Faceless Approval |
838
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| 84 Various Issues Relevant to Approval |
839
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| 85 Requirements As to Application or Accumulation of Income by Institutions Claiming Exemption under Section 10(23C) |
852
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| 86 Business Income of Institutions Claiming Exemption under Section 10(23C) |
871
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| Section C : Taxation and Audit of Charitable, Educational and Medical Institutions |
876
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| 87 Taxation of Voluntary Contributions |
876
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| 88 Capitation Fee Received by Educational & Medical Institutions |
880
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| 89 Tax Treatment of Anonymous Donations Received by Charitable, Educational or Medical Institutions |
887
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| 90 Maintenance of Books of Account and Audit thereof by Charitable, Educational and Medical Institutions |
889
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| 91 Computation of Income in Case of Certain Violations by Institutions Referred to in Section 10(23C)(iv)/(v)/ (vi)/(via) |
896
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| Section D : Sample Draft Deeds |
900
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| 92 Sample Draft Deed of Trust for Charitable Dispensary or Hospital |
900
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Part IV -- NGOs, Societies, Clubs, Etc. |
903
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| Section A : NGOs, Societies, Clubs, Etc. -- Introductory |
904
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| 93 Introducing NGOs/NPOs |
904
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| 94 Entity Specific Forms of NGOs/NPOs |
908
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| 95 Ready Referencer Vis-a-Vis Various Entity Specific Forms of NGOs/NPOs |
911
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| Section B : NGO As a Company |
914
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| 96 NGO as a Company |
914
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| 97 Corporate Social Responsibility Vis-a-Vis NGOs/NPOs |
928
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| Section C : NGO As a Society |
937
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| 98 Society : Meaning, Formation and Regulations |
937
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| 99 Sample Memorandum of Association and Rules & Regulations of a Society |
941
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| 100 Memorandum of Association and Rules and Regulations of a Children Welfare Society |
948
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| 101 Other Documents Related to Societies |
959
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| 102 Societies Registration Act, 1860 : Analytical Study |
961
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| Section D : NGOs as Institutions Funds or Associations of Specific Nature |
967
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| 103 Exempt Institutions/Funds/ Associations |
967
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| 104 Research Associations Run by NGOs/Societies |
970
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| 105 News Agencies and Approved Professional Associations Run by NGOs/ Societies |
976
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| 106 Exempt Funds, Institutions |
981
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| 107 Securitisation Trusts |
989
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| 108 Taxation of Investment Fund |
992
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| 109 Real Estate Investment Trusts (REIT) and Infrastructure Investment Trusts (INVIT) |
998
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| Section E : NGO as a Club |
1004
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| 110 Club : Meaning, Classification and Bye-Laws |
1004
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| 111 Applicability of Principle of Mutuality Vis-a-Vis Club |
1009
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| 112 Taxation of Club |
1016
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Part V -- Donations and Approval Under Section 80G |
1020
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| 113 Deduction to Donors under Section 80G Regarding Their Donations to NGOs/Societies, Etc. |
1021
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| 114 Procedure as to Approval of Trusts, Institution, Etc. |
1033
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| 115 Procedure as to Furnishing of Statement and Certificate |
1042
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| 116 Certain Issues Regarding Statement of Donations |
1045
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| 117 Issues Relevant to Grant of Approval |
1048
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| 118 CSR Expenditure Vis-a-Vis Deduction under Section 80G |
1070
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Part VI -- Certain Provisions Common to Charitable Trusts/Institutions/ NGOs, Etc. |
1076
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| 119 TDS Provisions Concerning NGOs |
1077
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| 120 Applicability of Mutuality Principle to Trusts or Institutions |
1082
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Part VII -- Accounting by Trusts and Institutions |
1089
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| 121 Applicability of Accounting Standards to Trusts Institutions, NGOs and NPOs |
1090
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| 122 Revenue Recognition by Trusts and Institutions [AS-9] |
1092
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| 123 Accounting of Government Grants by Trusts and Institutions [AS-12] |
1109
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| 124 Requirements as Per Other Important Accounting Standards |
1119
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| 125 Preparation of Annual Accounts by Trusts or Institutions |
1131
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| 126 Guidance Notes As to Accounting in Case of Schools |
1150
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| 127 Guidance Notes As to Accounting for Hospitals |
1180
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Part VIII -- Private Trusts -- Formation, Taxation and Planning |
1183
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| Section A : Statutory Provisions Governing Private Trusts |
1184
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| 128 Obectives for Creation of Trust |
1184
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| 129 Introducing Private Trusts [Sections 161 and 164] |
1186
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| 130 Oral Trust [Section 164A] |
1192
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| 131 Representative Assessee in Case of Trust [Section 160] |
1194
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| 132 Liabilities of Representative Assessees [Section 161] |
1199
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| 133 Taxation of Private Trust Indulging in Business Activities [Section 161(1A)] |
1214
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| 134 Double Taxation of Representative Assessee not Permissible [Section 161(2)] |
1219
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| 135 Double Taxation of Representative Assessee not Permissible [Section 161(2)] |
1221
| >> |
| 136 Direct Assessment or Recovery from Beneficiary [Section 166] |
1223
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| 137 Deemed Declared Trust [Explanation 1 to Section 160(1)] |
1231
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| Section B : Tax Planning Via Different Kinds of Private Trusts |
1232
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| 138 Specific Trusts |
1232
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| 139 Private Discretionary Trust |
1237
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| 140 Business Trust |
1243
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| 141 Trust for Deferred Benefit of Minor |
1250
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| 142 Miscellaneous Plannings Vis-a-Vis Private Trusts |
1255
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| Section C : Private Trusts Taxation |
1266
| >> |
| 143 Computation of Tax Liability in Case of Private Trusts [Sections 161 and 164(1)] |
1266
| >> |
| 144 Maximum Marginal Rate -- Meaning and Applicability [Section 2(29C)] |
1276
| >> |
| 145 Applicability of Section 56(2)(x) Vis-a-Vis Beneficiary or Trustee in Case of Private Trust |
1294
| >> |
| 146 Filing of Return of Income and Assessment |
1299
| >> |
| Section D : Deeds and Conveyancing |
1301
| >> |
| 147 Trust Deed -- General Principles |
1301
| >> |
| 148 Trust Deed (General) |
1302
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| 149 Wakf AL Aulad |
1306
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| 150 Family Welfare Trust |
1308
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| 151 Deed of Family Trust |
1311
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| 152 Regularisation of the Old Oral Trust by Duly Created Settlement Deed |
1314
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| 153 Settlement for Unborn Child |
1316
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| 154 Transfer of Property to Trust for Benefit of Relation |
1317
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| 155 Application under Section 160 as to Nature and Purpose of Trust |
1319
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Part IX -- GST Implications Vis-a-Vis Trusts, Etc. |
1321
| >> |
| Section A : Legal and Procedural Aspects |
1322
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| 156 Levy of GST on Trusts |
1322
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| 157 Meaning and Scope of Supply |
1327
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| 158 Taxability of Composite and Mixed Supply |
1335
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| 159 Registration Under GST |
1342
| >> |
| 160 Input Tax Credit |
1348
| >> |
| 161 Returns Under GST |
1352
| >> |
| 162 Furnishing of Details of Outward Supplies |
1359
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| Section B : GST on NGOs, Trusts, Societies |
1363
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| 163 GST on Charitable Trusts |
1363
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| 164 GST on Charitable Hospitals and Clinics |
1372
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| 165 GST on Educational Institutes |
1380
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| 166 GST on Services Supplied by Clubs, Associations or Societies |
1390
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| 167 GST on Renting of Immovable Property by Trusts |
1398
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| 168 GST on Manpower Supply and Security Services |
1406
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