Trusts & NGOs Ready Reckoner Professional Book By Dr. Manoj Fogla in paperback mode. Taxmann’s Trusts & NGOs Ready Reckoner is a practice guide for professionals that features extensive commentary along-with landmark cases, guide on the new registration process & comparative analysis.
The Present Publication is the 2nd Edition, authored by Dr. Manoj Fogla, CA Suresh Kumar Kejriwal & CA Tarun Kumar, and amended by the following:
- The Finance Act 2021
- The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
- The Income-tax (Sixth Amendment) Rules, 2021
The noteworthy features of this book are as follows:
- [Exhaustive Commentary] on the new procedure for registration and approval under Section 12AB, 10(23C) and 80G
- [Practical Guide to File New Forms for Registration and Approval] w.e.f. 01-04-2021
- [Comparative Analysis of Registration] under Section 12AB and approval under Section 10(23C)
- [Practical Guide to File Audit Report] in Form 10B and ITR-7
- [Flowcharts & Illlustrations] to explain the law relating to the taxation of NGOs
- [Landmark Cases] on all controversial issues
- [Tabular Overview] of the compliances
The detailed contents of the book are as follows:
- Introduction and Legal Framework of NPOs in India
- Meaning of Charitable Purpose
- Amendment of Trust Deed
- New Scheme of Registration under Section 12AB
- Registration under Section 12AB of the organisation formed without an instrument
- Practical Guide to Registration under Section 12AB
- Conditions for claiming exemption under Sections11 and 12
- Scope of Income under Section 11
- Application of Income
- Scheme of taxation and computation of income
- Corpus Donation
- Inter-Charity Donations
- Project Grants whether Income
- Implications of Section 2(24)(xviii) on grant and corpus donation
- Treatment of Capital Gains
- Business Activity under Section 2(15)
- Incidental Business and Business held as Trust Property
- Options available for accumulation of income
- Set off & Carry Forward of Past Deficit
- Anonymous Donations
- Penal Taxation of NGOs
- Cancellation of Registration
- Tax on Accreted Income of NGOs
- Taxation when Exemption is withdrawn or Status is Lost
- Approval under Section 80G
- Practical Guide to Approval under Section 80G
- Tax Implication of CSR Expenditure
- International Activities of NGOs outside India
- Audit under Section 12A
- Practical Guide to Audit under Section 12A
- Submission of Income-tax Return
- Practical Guide to file Form ITR-7
- Forfeiture of various Incomes under Section 13
- Forfeiture - Charitable activity for a particular community
- Forfeiture - Benefit to Interested Person
- Forfeiture - Violation Regarding Investment under Section 13(1)(d)
- Forfeiture - Investment in Section 8 Company and Incubatee companies
- Overview and Fundamental Concepts under Section 10(23C)
- Government Funded and Institutions up to aggregate INR 5 Crore Receipts under Section 10(23C)
- Exemptions and Conditions for Approval under Section 10(23C)
- Approval and Cancellation under Section 10(23C)
- Tabular Overview of Compliances under Section 10(23C)
- Comparative Analysis of section 11 with Section 10(23C)
- Practical Guide to Approval under Section 10(23C)
- Mutual Societies
- Issues Arising out of Income Tax (6th Amendment) Rules, 2021
- Religious & Partly Religious Trust
Dr. Manoj Fogla, is a fellow member of the Institute of Chartered Accountants of India. He holds a Bachelor degree in Laws and also holds a Master’s degree in Philosophy. He has also completed Ph.D. from Utkal University, Doctoral Research on Social Accountability Standards for NPOs. He is an expert on Taxation, CSR, FCRA Governance and Accountability issues. He is the author of several best-selling books for professionals which include:
- Comprehensive Commentaries on Taxation of Trusts & NGOs by Taxmann
- Handbook on CSR for Corporates & NPOs
- Commentaries on FCRA and Lokpal
- Legal and Financial Handbook for Voluntary Organisations
He is a member of the Board of several institutions including Xaviers Institute of Management, Bhubaneshwar (XIMB), Xaviers University, Bhubaneshwar (XUB) and ASBN University, Bhubaneshwar.
He also drafted publications for The Institute of Chartered Accountants of India, New Delhi such as FAQs on GST for NPOs & FAQs on FCRA for NPOs.
He has been addressing as faculty and resource person at various national and international forums.
Mr. Suresh Kumar Kejriwal is a practicing-chartered accountant and founder partner of M/s. Agarwal Kejriwal & Co., Chartered Accountants, Kolkata.
He is mainly working for NGO sector and he has wide experience of more than 30 years and his professionals working areas include India, Bangladesh & Nepal.
He is one of the Faculty of course on ‘Diploma in Financial Management and Accountability’ conducted by Tata Institute of Social Sciences, Mumbai (TISS) in partnership with Financial Management Services Foundation, Noida (FMSF).
He has been the co-opted member of the committee for Co-operatives and NPO Sectors of the Institute of Chartered Accountants of India for the year 2013-14.
He is one of the Associate Authors of the book “Taxation of Trusts & NGOs” by Taxmann. He is one of the persons involved in preparing the draft of FAQs for NPOs on GST published by the Committee for Co-operatives and NPO Sectors, the Institute of Chartered Accountants of India, New Delhi.
He has facilitated many workshops/seminars organized by various institutions and the Institute of Chartered Accountants of India as a resource person on the topics concerning NGO Sector.
Mr. Tarun is a Chartered Accountant (Member, Institute of Chartered Accountants of India). He is a First Class commerce graduate from Panjab University, Chandigarh. He has also qualified the Diploma in International Taxation conducted by ICAI.
He is currently practicing in New Delhi. He has extensive experience of working with various Non-Governmental Organizations (NGOs) and start-ups. He has good experience in handling Income-tax matters with specialisation in the taxation of start-ups and NGOs.
He is associated with the Research & Advisory wing of Taxmann Publications. He has authored various blogs on taxation matters that have been published in the print media and leading newspapers as well as web portals. He is a regular speaker on Income-tax
He has Co-Authored a book on ‘Trusts and NGOs Ready Reckoner - A Practice Guide for Professionals’ published by Taxmann Publications.