CA Suresh Kumar Kejriwal's Books

Taxmann's Trusts & NGOs – Your Queries on Audit Reports (Form Nos. 10B & 10BB) & Income-tax Return (ITR-7) – Complete Guide—Featuring FAQs | Step-by-step e-Filing Tutorials | Others

By: Dr. Manoj Fogla,CA Suresh Kumar Kejriwal,CA Tarun Kumar Madaan

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Taxmann's Trusts & NGOs – Your Queries on Audit Reports (Form Nos. 10B & 10BB) & Income-tax Return (ITR-7) – Complete Guide—Featuring FAQs | Step-by-step e-Filing Tutorials | Others

By: Dr. Manoj Fogla,CA Suresh Kumar Kejriwal,CA Tarun Kumar Madaan

This book is a comprehensive and practical guide for preparing and filing audit reports using Form Nos. 10B and 10BB, as well as the Income-tax Return (ITR-7). Updated with the latest amendments from the Finance (No. 2) Act, 2024, it addresses compliance requirements and procedural changes with clear, actionable insights, detailed analyses, and step-by-step guidance to ensure accuracy and compliance. The book includes over 100 FAQs to clarify common audit issues, detailed analyses of audit requirements under Sections 12A and 10(23C), and practical guidance with sample observations, qualifications, and e-filing tutorials. It also provides an up-to-date overview of changes in ITR-7 for A.Y. 2024-25, providing practical advice to simplify complex regulatory processes. This book is helpful for trusts, NGOs, auditors, and tax consultants on the audit and tax compliance processes specific to charitable organisations. The Present Publication is the September 2024 Edition, amended by the Finance (No. 2) Act, 2024. This book is authored by Dr Manoj Fogla, CA Suresh Kumar Kejriwal, and CA Tarun Kumar Madaan, with the following noteworthy features: • [Comprehensive FAQs] This edition includes over 100 Frequently Asked Questions (FAQs) that address common and complex issues encountered while auditing trusts and institutions using Form 10B and Form 10BB. These FAQs provide clarity on critical aspects such as eligibility, selection of the appropriate form, format of reports, due dates, and specific disclosure requirements • [In-depth Coverage of Amendments] The book provides exhaustive analyses of the significant changes introduced in the newly notified Form 10B and Form 10BB, highlighting their applicability, reporting requirements, and the impact on audit and filing procedures • [Thorough Analysis of Audit Requirements] It provides an extensive review of the audit requirements under Sections 12A and 10(23C) of the Income-tax Act, focusing on the prerequisites for obtaining an audit report, maintenance of books of account, and the consequences of non-compliance. The analysis extends to the applicability of tax audit requirements under Section 44AB • [Practical Reporting Guidance] The book includes practical guidance for auditors, featuring sample draft observations, qualifications, and illustrative examples of how to report specific circumstances in audit reports. This section is designed to enhance the quality and relevance of audit disclosures, ensuring that auditors can effectively communicate findings and comply with statutory reporting obligations • [Step-by-step e-filing Tutorials] Recognising the growing importance of digital compliance, the book provides user-friendly, detailed tutorials for e-filing audit reports in Form Nos. 10B and 10BB. These step-by-step guides cover the entire process, from adding the Chartered Accountant (CA) to the e-filing portal, assigning forms, accepting assignments, to the final submission and verification of reports • [Up-to-date Analysis of ITR-7 Changes] This edition thoroughly examines the latest changes in the ITR-7 form, applicable from A.Y. 2024-25, providing insights into procedural updates, new schedules, and specific filing instructions. The detailed explanations help preparers understand the nuances of the updated form, ensuring accurate and compliant submissions. • [Incorporation of Finance (No. 2) Act, 2024 Amendments] The book incorporates all relevant changes introduced by the Finance (No. 2) Act, 2024, along with key circulars and notifications, making it a reliable and current reference point for legal compliance The detailed contents of the book are as follows: • FAQs on Audit of Trusts & Institutions in Form 10B/10BB o Introduction & applicability of audit under various sections o Selecting the appropriate form (Form 10B or Form 10BB) based on income thresholds o Eligibility criteria for auditors and specifics on the format of audit reports o Step-by-step process for filing audit reports, including due dates and procedural tips o Detailed guidance on disclosure and reporting requirements in the annexures to Form 10B/10BB • Law and Practice Relating to Audit of Trusts and Institutions and ITR-7 o Comprehensive overview of audit requirements under Section 12A and Section 10(23C), including who must file and when o Detailed guidance on maintaining books of account, covering the types of records required, their retention period, and where they should be kept o In-depth discussion on the ramifications of not obtaining an audit report and the consequences of not maintaining proper books of account o A clear breakdown of the specific requirements for filing Form 10B and Form 10BB, including an overview of the forms, the structure of the reports, and the annexures that need to be attached o Analysis of the applicability of tax audit under Section 44AB, including the criteria for applicability and the relationship between tax audits and audits under Sections 12A and 10(23C) • Concept of Income, Total Income, and Other Receipts o Definitions and practical implications of "total income" under Sections 11 and 12, including how income is calculated for audits o Detailed examination of the various types of income that affect the audit requirements, including income from business held as property of the trust and income from incidental business o Guidelines for computing income to select the appropriate audit form (Form 10B or 10BB), primarily focusing on the criteria for receipts below or above five crores • Implications of TDS Against Grant Receipt o Overview of the legal background regarding Tax Deducted at Source (TDS) on grant receipts and its implications for trusts and NGOs o The reporting mechanisms applicable from AY 2023-24, including the procedural changes and how they affect the reporting of grant receipts in the audit report • Sample Observations and Qualifications for Audit Reports o Comprehensive list of sample observations and qualifications that can be included in audit reports, tailored to address common issues faced by auditors o Specific reporting requirements for transactions involving specified persons under Section 13(3) and violations of the relevant laws o Practical examples of how to report the maintenance of books of account, the non-filing of income tax returns, and other common issues • Instructions for Filling Form 10B and Form 10BB o Step-by-step instructions for completing and submitting Form 10B and Form 10BB, including a detailed breakdown of each field and annexure o Common errors to avoid, field-specific guidance, and tips for ensuring accurate and compliant submissions o Instructions on how to download and use the offline utility for filing these forms, along with practical advice for navigating the e-filing system • Tutorials on E-filing Forms 10B and 10BB o Detailed tutorials covering every step of the e-filing process, from adding the CA to the e-filing portal and assigning forms to the CA to accepting assignments and verifying submissions o Separate tutorials for the submission of Forms 10B and 10BB, including specific instructions for both the CA and the assessee o Tips and best practices for ensuring a smooth and error-free e-filing tailored to the needs of trusts and NGOs • Requirement to Submit ITR under Sections 12A and 10(23C) o A clear explanation of the requirement to submit income tax returns as a condition for claiming exemptions under Sections 12A and 10(23C) o Detailed guidance on the filing deadlines, the selection of the correct ITR form, and the e-filing procedures for ITR-7 o Discussion of the consequences of delayed or incorrect submissions, including the penalties and legal implications of non-compliance o Guidance on submitting revised returns, updated returns, and the conditions under which exemptions can be claimed through these processes • Practical Guide to File Form ITR-7 o Overview of the key changes introduced in Form ITR-7 for AY 2024-25, including updates to relevant schedules and filing procedures § Step-by-step instructions for filing ITR-7, including verification processes, handling defective returns, and addressing common mistakes o Practical tips for ensuring that the ITR-7 form is completed accurately and submitted in compliance with current legal requirements • Appendices o A collection of relevant circulars and notifications that impact the audit and filing processes, providing a quick reference to the most critical updates o Extracts from the Income-tax Rules, 1962, focusing on the rules that govern the audit and filing requirements for trusts and NGOs o Relevant forms and practical examples that illustrate compliance with the statutory requirements, offering readers practical tools for navigating their obligations

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ISBN 10

9364555716

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9789364555715

Taxmann's Trusts & NGOs Ready Reckoner – Practical commentary on the tax implications during the life cycle of Charitable Trusts & NGOs with various tutorials & guides [Finance Act 2023 Edition]

By: Dr. Manoj Fogla,CA Suresh Kumar Kejriwal,CA Tarun Kumar Madaan

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Taxmann's Trusts & NGOs Ready Reckoner – Practical commentary on the tax implications during the life cycle of Charitable Trusts & NGOs with various tutorials & guides [Finance Act 2023 Edition]

By: Dr. Manoj Fogla,CA Suresh Kumar Kejriwal,CA Tarun Kumar Madaan

This book explains the tax implications during the life cycle of a charitable trust, starting from incorporation, registration, maintenance of books of account, scheme of taxation, computation of income, filing of the income-tax return, audit report, cancellation of registration, forfeiture of exemption, etc. It contains an extensive discussion of the provisions of the Income-tax Act, tutorials and guides on filing various forms under the Act. This book is an essential resource for anyone interested in the legal landscape surrounding trusts & NGOs, containing a comprehensive collection of landmark rulings on all controversial issues. The Present Publication is the 4th Edition and has been amended by the Finance Act 2023. This book is authored by Dr Manoj Fogla, CA Suresh Kumar Kejriwal & CA Tarun Kumar Madaan, with the following noteworthy features: • [Clear & Accessible Language] is followed throughout this book • [Analysis & Impact of Amendments] by the Finance Act 2023 • [Exhaustive Coverage of the Registration & Approval Process] under the following Sections: o Section 12AB o Section 10(23C) o Section 80G • [Explanation to the Scheme of Taxation & Computation of Income] of NGOs • [Practical Guide] for the following: o Filing Registration Application in Form No. 10A and Form No. 10AB o Filing of Statements of Donations in Form No. 10BD o Filing of Audit Reports in Form 10B and Form 10BB • [Flowcharts & Illustrations] explaining the law relating to the taxation of NGOs • [Landmark Rulings] on all controversial issues • [Tabular Overview of Compliances] has been provided in this book • [Impact Analysis of Supreme Court Rulings] in the case of New Noble Educational Society [2022] 143 taxmann.com 276 (SC) and Ahmedabad Urban Development Authority [2022] 144 taxmann.com 78 (SC) The detailed contents of the book are as follows: • Introduction and Legal Framework of NGOs in India • Meaning of Charitable Purpose • Religious & Partly Religious Trust • Amendment of Trust Deed • Registration Scheme under Section 12AB • Registration of Trust Formed without an Instrument • Practical Guide to Registration under Section 12AB • Conditions for claiming exemption under Sections 11 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 Donations in Kind • Treatment of Capital Gains • Treatment of Depreciation • Business Activity under Section 2(15) • Incidental Business under section 11(4A) and Business held as Trust Property under Section 11(4) • Options available for accumulation of Income • Specified Modes of Investments or Deposits under section 11(5) • Set-off & carry forward of past deficit • Source of Application of Income • Anonymous Donations • Penal Taxation of NGOs • Cancellation of Registration • Tax on Accreted Income of NGOs • Taxation when Registration Status is Lost • Approval under Section 80G • Practical Guide to Approval under Section 80G • Practical Guide to Furnish Statement of Donations in Form 10BD • Tax Implication of CSR Expenditure • International Activities of NGOs Outside India • Maintenance of Books of Account • Requirement of Audit under Section 12A • Practical Guide to Upload Audit Report in Form 10BB • Practical Guide to Upload Audit Report in Form 10B • Requirement to Submit ITR under section 12A • Practical Guide to File Form ITR-7 • Forfeiture of various Incomes under Section 13 • Forfeiture – Charitable activity for a particular religious community or caste • 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 of Exemption Scheme under Section 10(23C) • Government Funded and up to INR 5 crore Annual Receipt Institutions • Exemptions and Conditions for Approval under Section 10(23C) • Approval and Cancellation under section 10(23C) • Practical Guide to Approval under section 10(23C) • Tabular Overview of Compliances under Section 10(23C) • Comparative Analysis under Sections 11 & 10(23C) • Mutual Societies • Exemption to Institutions notified under section 10(46) and 10(46A)

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9356227160

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9789356227163

Taxmann's Trust & NGOs – Your Queries on Audit Reports (Form Nos. 10B & 10BB) & Income-tax Return (ITR-7) – Compendium of 100+ FAQs with Thorough Analysis & Practical Guidance

By: Dr. Manoj Fogla,CA Suresh Kumar Kejriwal,CA Tarun Kumar Madaan

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Taxmann's Trust & NGOs – Your Queries on Audit Reports (Form Nos. 10B & 10BB) & Income-tax Return (ITR-7) – Compendium of 100+ FAQs with Thorough Analysis & Practical Guidance

By: Dr. Manoj Fogla,CA Suresh Kumar Kejriwal,CA Tarun Kumar Madaan

This book is a comprehensive and up-to-date guide for understanding the intricate process of furnishing an audit report in Form 10B & Form 10BB and Income-tax Return Filing in ITR 7. This book will be helpful for trusts, NGOs, audit professionals and consultants. The Present Publication is the Latest 2023 Edition, amended by the Finance Act 2023 and updated till 10th October 2023. This book is authored by Dr Manoj Fogla, CA Suresh Kumar Kejriwal, and CA Tarun Kumar Madaan, with the following noteworthy features: • [Compendium of 100+ FAQs] pertaining to the audit of trusts and institutions in Form 10B & Form 10BB for AY 2023-24 • [Coverage of Changes Introduced in Form 10B & Form 10BB] providing in-depth insights into the applicability and reporting requirements • [Thorough Analysis] of the following: o Requirement of Audit o Maintenance of Books of Accounts o Filing of ITR 7 o Changes in ITR-7 applicable for AY 2023-24 • [Practical Guidance] o Sample draft observations & qualifications for auditors to report in specific circumstances o Guide & tutorials for e-filing of audit report in Form 10B & Form 10BB The detailed contents of the book are as follows: • FAQs on Audit of Trusts & Institutions in Form 10B/10BB for AY 2023-24 • Requirement of Audit under Section 12A and Section 10(23C) • Maintenance of Books of Accounts • Ramifications of Not Obtaining Audit Report and Non-maintenance of Books of Account • Overview of Form 10BB & Form 10B • Analysis of the Applicability of Tax Audit under Section 44AB • Sample Observations and Qualifications for Inclusion in the Main Audit Report • Instructions for Filling Form 10BB issued by the Income Tax Department • Instructions for Filling Form 10B issued by the Income Tax Department • Tutorial on E-filing of Form 10B/10BB • The Requirement to Submit ITR under Sections 12A and 10(23C) • Practical Guide to File Form ITR-7

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9357784594

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9789357784597

Taxmann's Trusts & NGOs Ready Reckoner – Comprehensive | Step-by-step Guidance on Taxation | Compliance | Legal Requirements —Featuring Updated Procedures | Filing Instructions | Visual Aids

By: Dr. Manoj Fogla,CA Suresh Kumar Kejriwal,CA Tarun Kumar Madaan

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Taxmann's Trusts & NGOs Ready Reckoner – Comprehensive | Step-by-step Guidance on Taxation | Compliance | Legal Requirements —Featuring Updated Procedures | Filing Instructions | Visual Aids

By: Dr. Manoj Fogla,CA Suresh Kumar Kejriwal,CA Tarun Kumar Madaan

The Trusts & NGOs Ready Reckoner provides an in-depth guide to the taxation, compliance, and legal requirements for charitable trusts and NGOs in India. It covers formation, registration, tax exemptions, and compliance under the Income-tax Act. With over 60 chapters, the book offers practical guidance on the provisions, step-by-step filing instructions, flowcharts, and illustrations, ensuring clarity on exemptions, income applications, donations, and business activities. This book serves as a detailed roadmap for professionals, administrators, and legal practitioners, covering every stage from setting up an organisation to compliance under the Income-tax Act. The Present Publication is the 5th Edition, amended by the Finance (No. 2) Act, 2024. This book is authored by Dr Manoj Fogla, CA. Suresh Kumar Kejriwal & CA. Tarun Kumar Madaan, with the following noteworthy features: • [Comprehensive Taxation Coverage] The book provides an exhaustive analysis of the lifecycle of charitable trusts and NGOs, addressing topics such as formation, registration, filing returns, and maintaining accounts. With over 60 chapters, it discusses all facets of NGO taxation, exemptions, compliance requirements, and business activities in detail • [Registration & Approval Procedures Simplified] It provides comprehensive coverage of the registration and approval process under Sections 12AB, 10(23C), and 80G, outlining procedures for provisional and regular registration, conversion of provisional registration, renewal, and cancellation of registration • [Step-by-step Filing Guidance] Detailed instructions for filing various crucial forms are included, such as Forms 10A, 10AB, 10BD, 10B, and 10BB, ensuring proper compliance with statutory requirements • [Flowcharts & Illustrations for Complex Issues] The book includes user-friendly flowcharts and illustrations to simplify the complex tax provisions and compliance issues that charitable organisations face, making understanding intricate processes easier • [Analysis of Landmark Rulings] Practical commentary on judicial rulings is provided to assist in understanding how critical and contentious issues have been interpreted, offering a real-world perspective on the application of legal provisions • [Tabular Overviews of Compliance] For ease of reference, compliance requirements under various sections are laid out in tabular formats. The book also includes comparisons between different forms of charitable registrations and a thorough analysis of the conditions for exemption • [In-depth Analysis Across 60+ Chapters] o Foundational Aspects of NGOs – The book discusses the legal framework of NGOs in India, covering the meaning of charitable purposes as defined under Section 2(15), the advantages of legal formation, and differences between types of registrations such as trusts, societies, and Section 8 companies o Guidance on Amending Trust Deeds – Practical advice on amending trust deeds, including permissible powers of trustees, supplementary deeds, and the role of civil courts, is covered comprehensively o Specific Focus on Religious & Partly Religious Trusts – It discusses the treatment of religious and partly religious trusts, the applicability of Section 2(15), and the eligibility of these trusts for approval under Section 80G o Practical Registration Procedures under Section 12AB – The book provides a detailed overview of the registration scheme under Section 12AB, including registration for trusts without an instrument, shifting from approval-based exemptions under Section 10(23C) to registration-based exemption under Section 12AB, and the implications of rejections or cancellations o Income Application & Computation for Tax Exemptions – The book provides clear guidance on applying income under Sections 11 and 12, calculation of total income, and conditions for exemptions. The book also explains the practical implications of project grants, capital gains, corpus donations, and business activities under Section 2(15) o Compliance & Filing Process for Forms & Returns – Tutorials and step-by-step guides are included for e-filing key forms (Forms 10A, 10AB, 10BD, 10B, and 10BB), furnishing statements of donations, and maintaining the necessary books of account The notable chapters in the book include: • Tax Audit & Accounting Requirements o In-depth discussions are provided on the applicability of tax audits under Section 44AB, requirements under Section 12A, and ramifications for non-maintenance of books of account • CSR Expenditure & Tax Implications o A dedicated chapter discusses the status and tax implications of CSR expenditure, allowing practitioners to understand the intricacies of corporate social responsibility from both a legal and accounting perspective • International Activities of NGOs o This segment explores legal provisions concerning activities conducted outside India, including implications on income application, working with foreign contributions, and impact on registration • Anonymous Donations & Penal Taxation o The book examines the taxation of anonymous donations under Section 115BBC, the implications of non-compliance, and the applicability of penal tax provisions for NGOs, detailing how to handle various circumstances leading to penalisation • Treatment of Donations & Capital Gains o Comprehensive guidance is provided on the taxation treatment of various kinds of donations, including in-kind and corpus donations. Additionally, the book delves into capital gains management, their application, and computation under Section 11(1A) • Comparative Analysis of Exemption Schemes o An extensive comparison between exemption schemes under Sections 11 and 10(23C) is provided, outlining the advantages and drawbacks of each to help trusts make informed decisions • Approval Under Section 80G & Compliance o The book lays out a practical guide for obtaining approval under Section 80G, the conditions for eligibility, the process for applying for approval, and the impact on deduction claims for donors

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