Public Trusts and Taxation by V K Varadachari

The book is intended to present a detailed study on the subject of taxation of public, religious and charitable trusts.

While trusts serve a very useful social objective, they have also been in use as a device to avoid tax. To plug the loopholes, the legislature has from time to time amended the law governing taxation of Public Trusts (especially Sections 11 to 13 of the Income Tax Act). As a result, a vast plethora of case-law has developed on the subject. The learned author has analysed and studied the entire case-law (till the date of publication) and amendments and given a very lucid commentary with his notes, comments and suggestions.

• Chartered Secretary, Institute of Company Secretaries of India, New Delhi :

An eloquent study of the practical and legal implications analysed in the light of authoritative judicial pronouncements rendered by the Supreme Court and the High Courts in relation to the various aspects concerning charitable trusts and institutions. The author 's work in bringing out such a useful publication is highly commendable. The book is a thorough analysis and an up-to-date exposition by way of commentary on the subject of charitable trusts and institutions in the matter of income-tax. The entire discussion in the book is analytical and authoritative. Even foreign cases which are relevant for the purpose have been appropriately dealt with. The book would be useful as a source of valuable reference to everyone concerned with charitable and religious trusts and institutions, as a trustee, beneficiary, administrator or manager thereof and also for tax practitioners, tax authorities, appellate authorities and the courts.

• Management Accountant :

The work is really a scholarly act done in the field of taxation of Public trusts. The publishers have to be complimented for presenting to the general body of readers and beginners of the subject with such a nice, illustrious text material which can never be dispensed with.

• Academy Law Review :

The case-law on important issues is discussed, wherever necessary. The indices appended to the book will help the reader much. This book necessarily, must find a place in any good law library.

• Kerala Law Times :

The amply documented study written in a lucid, unpretentious style, embraces a large variety of matter. The author 's thoughts are provocative, and conflicting views are critically examined stating the fallacies, emphasizing the reasoning of the two sides and giving valid and sound reasons for the correct views to be followed. This is a model of first rate scholarship mated to practical use.

• All India Reporter :

All amendments and case laws have been included in this valuable commentary which will be useful to those who deal with trust matters. The lawyers, judges, trustees and those who are desirous of creating trust, would find this book a mine of information.

                   Public trusts 1
                   Charitable purposes 24
                   Religious purposes 73
                   Exclusion of income under Section 10 97
                   Exclusion of income under Section 11 111
                   Conditions for exclusion under Section 11 165
                   Disqualifications for exemption 198
                   Registration of trusts 252
                   Revocation of trusts 258
                   Voluntary contributions 283
                   Donations 302
                   Taxation of trusts 316
                   Trusts under wealth-tax 335
                   Trusts under gift-tax 345
                       Appendix I.-Notice to the Income-tax Officer under Section 11(2)
                       of the Income-tax Act, 1961 349
                       Appendix II.-Application for registration of a charitable or religious
                       trust or institution under Section 12-A(a) of the Income-tax
                       Act, 1961 351
                       Appendix III.-Notifications under Section 10(23-C)(iv) 353
                       Appendix IV.-Institutions notified under sub-clause (v),
                       Section 10(23-C) 367