TAXMANN -TRUSTS & NGOs Ready Reckoner -Updated by Finance Act 2025- by MANOJ FOGLA

Trusts & NGOs Ready Reckoner (6^th Edition | 2025) is a comprehensive guide that simplifies the laws governing charitable trusts, NGOs, religious institutions, and other non-profit organisations in India. This book provides an in-depth analysis of the latest amendments introduced by the Finance Act 2025, particularly regarding trusts and NGOs’ registration, approval, and taxation. This Edition incorporates recent judicial rulings, including landmark Supreme Court judgments, and contains extensive practical guidance on preparing and filing Forms 10A, 10AB, 10BD, 10B, 10BB, and the revised ITR-7. It also offers flowcharts, illustrations, and step-by-step instructions to simplify critical procedures related to the registration, compliance, and audit processes under sections 12AB, 10(23C), 80G, and others.

This book is intended for the following audience:

• Chartered Accountants & Tax Professionals – Those involved in compliance, advisory, and litigation support for non-profit organisations
• Lawyers & Legal Practitioners – Professionals who handle trust deeds, NGO-related litigation, and regulatory matters
• Trustees, CFOs, and Finance Managers of NGOs – Individuals responsible for regulatory compliance, audits, and taxation matters within non-profit entities
• Corporate Foundations & CSR Teams – Those managing corporate social responsibility (CSR) initiatives, grant-making, and philanthropic ventures
• Researchers & Academicians – Anyone interested in the legal and financial aspects of charity and philanthropic work

The Present Publication is the 6^th Edition | 2025, amended by the Finance Act 2025. This book is authored by Dr Manoj Fogla, CA. Suresh Kumar Kejriwal & CA. Tarun Kumar Madaan, with the following noteworthy features:

• [Comprehensive Analysis of Amendments by Finance Act 2025] Explains the implications of recent legislative changes on trusts and NGOs with practical illustrations
• [Detailed Coverage of Registration & Approval Processes] Under sections 12AB, 10(23C), and 80G, including step-by-step procedures to navigate the e-filing portal
• [Shifting from Exemption under Section 10(23C) to Section 12AB] Discusses the nuances, benefits, and compliance obligations arising from transitioning between these regimes
• [Focus on Taxation & Audit Aspects] Offers comprehensive guidance on the law and practice relating to audits in Forms 10B and 10BB, plus the latest changes in ITR-7
• [Up-to-date Compliance Guidance] Covers step-by-step filing guides for Forms 10A, 10AB, 10BD, 10B, and 10BB, with relevant screenshots and instructions
• [Flowcharts & Illustrations] Simplify complex taxation and compliance issues, making the book highly user-friendly
• [In-depth Judicial Analysis] Summaries of landmark rulings, including the Supreme Court’s judgments in New Noble Educational Society and Ahmedabad Urban Development Authority cases
• [Practical Tips & FAQs] Offers practical scenarios, frequently asked questions, and expert insights to clarify typical concerns faced by NGOs and professionals

The coverage of the book is as follows:

• Legal Framework & Essential Concepts
  • Meaning of charitable purpose, religious versus charitable trusts, and partly religious trusts
  • Formation and amendment of trust deeds, registration under section 12AB, and modifications in object clauses
• Registration & Approvals
  • Detailed procedures for obtaining and renewing registrations under section 12AB, shifting from section 10(23C) to section 12AB, and obtaining approval under section 80G
  • Exhaustive discussion on provisional and regular registrations, including coverage of inter-charity donations and corpus donations
• Computation of Income & Application Requirements
  • Covers corpus donations, project grants, business activity under sections 2(15)/11(4)/11(4A), and statutory accumulations
  • Explains capital gains, depreciation, anonymous donations, and set-off & carry forward of deficit
• Audit & Filing Obligations
  • Thorough guidance on preparing audit reports in Form 10B or 10BB and revised instructions for e-filing procedures
  • Step-by-step tutorials for ITR-7 filing, including new compliance rules introduced by amendments
• Penal Taxation & Cancellation of Registration
  • Detailed treatment of penal taxation provisions under sections 115BBI, 164(2), and the consequences of non-compliance
  • Explains cancellation or withdrawal of registration, and the implications of losing registration status or approval
• CSR & Other Key Topics
  • Analyses CSR expenditure, tax implications, and interplay with corporate foundations
  • Discusses FCRA overlaps, foreign contributions, and activities carried outside of India

The structure of the book is as follows:

• Logical Flow of Chapters – The book starts with foundational concepts such as the legal framework, charitable purpose, and trust formation and moves into complex areas like registration, approvals, taxation, audits, and compliance workflows
• Step-by-step Guides & Flowcharts – Many chapters contain flowcharts, tables, and illustrations that demystify procedural complexities—making the content accessible
• Topical Segmentation – Each topic is self-contained, explaining relevant provisions of the Income-tax Act, related Rules, and the latest circulars, with case law references
• Appendix of Relevant Circulars – The book concludes with an exhaustive Appendix featuring critical CBDT circulars, departmental clarifications, and notifications for quick reference