EBC’s Tax Exemptions for Charitable Trusts

EBC’s Tax Exemptions for Charitable Trusts – 1st Edition 2024 is a definitive legal and practical guide for understanding the complex framework of income tax exemptions applicable to charitable trusts, institutions, and NGOs in India. Authored by subject-matter experts and published by Eastern Book Company, this book offers comprehensive and up-to-date insights into legal provisions, judicial interpretations, and compliance strategies under the Income Tax Act, 1961.

The book elaborates on critical sections like 11, 12, 12A, 12AB, 80G, and 10(23C), which govern the tax benefits for not-for-profit organizations. It helps trustees, legal advisors, chartered accountants, and NGO managers navigate through eligibility conditions, procedural requirements, audit obligations, registration processes, and renewal norms effectively. The work is enriched with real-life case laws, comparative tables, flowcharts, and step-by-step compliance checklists for maximum clarity.

Key Features:

• 📘 Comprehensive Analysis of Sections 11 to 13: Detailed interpretation of income accumulation, application rules, and corpus donations for charitable and religious trusts.

• 🧾 Guide to 12AB & 80G Registration: Step-by-step explanation of the process, documents required, timelines, and renewal obligations for obtaining and maintaining registration.

• ⚖️ Judicial Precedents & CBDT Circulars: Extensive coverage of landmark court rulings and relevant circulars clarifying the treatment of donations, anonymous income, and application of funds.

• 📊 Compliance Charts & Templates: Includes ready-to-use formats, flowcharts, and tabular comparisons to simplify understanding of filing, reporting, and auditing norms.

• 📚 Practical Examples & Case Studies: Real-world illustrations and scenarios help contextualize theoretical principles for smooth application in practice.

• 🔍 Discussion on Trust Deed Drafting & Amendments: Covers best practices in drafting trust deeds and consequences of modifications post-registration.

• 📅 Latest Amendments Incorporated: Updated as per recent Finance Acts and statutory notifications relevant up to the assessment year 2024–25.

Why This Book is Essential:

• ✅ One-Stop Solution: A single, reliable resource for understanding the complete taxation framework applicable to charitable trusts and NGOs in India.

• 🧠 Clarity in Legal Compliance: Breaks down complex statutory language into practical, understandable guidance, enabling full legal compliance.

• 💼 Indispensable for Professionals: Perfect for tax professionals, lawyers, compliance officers, and trustees managing nonprofit finance and operations.

• 📈 Enhances Legal Risk Management: Helps organizations avoid pitfalls in compliance, safeguard exemptions, and maintain transparency in financial management.

• 🛠️ Practical + Theoretical Fusion: Combines legislative commentary with actionable tools for practical implementation.