Taxation of Public Trusts & Institutions

The book traverses the entire gamut of charitable or religious purposes, voluntary contributions, capital gain, business income, registration and audit, application and accumulation relevant to exemption. It deliberates on the forfeiture of exemption and incidence or tax for misuse of trust income, property or unspecified investment of fund. The rebate available to the donors for charity, scientific research and specific projects has been elaborately discussed.

Key Features:

• Brief overview of a trust
• Charity and its implications
• Income from property held in trust
• Exemptions in the conspectus of tax laws 
• Application–judicial interpretations
• Business activities of a trust
• Forfeiture of tax exemption

Part - 1  Exemption of Income of Trust

• Trust -- A Brief Overview
• Preliminary --- Important Defiitions, Terms and Concepts
• Charity and its Implications
• Religious Purposes
• Income
• Voluntary Contributions
• Exemeption of Trust in the Conspectus of Tax Laws
• Application of Income --- Judicial Interpretations
• Capital Gain -- Section 11 (1A)
• Accumulation or Set off
• Specified Modes of Investment
• Sections 60 to 63 Preclude Section 11
• Treatment of Business Activities by a Trust
• Forfeiture of Tax Exemption
• Registration under Section 12AA
• Compulsory Edit and Requirement of Filing Audit Report
• Oraganizations Exempted under Section 10
• Rebate to Donors on Donation made for Charity
• Deduction on Expenditure on Scientific Research
• Deduction on Eligible Projects or Schemes
• Mutual Benifit Scheme
• Taxability of Private Trusts
• Assessment Procedure
• Miscellaneous
• Formation or Creation of Public Voluntary Organization and its Management

Part - 2  Glimpses of Foreign Contribution (Regulation) Act 1976
Part - 3  Frequently Asked Questions