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FULL DAY SEMINAR ON CHARITABLE TRUSTS – CRITICAL ASPECTS (Jointly with Bombay Chartered Accountants’ Society)

September 14, 2019 @ 9:00 am - 5:45 pm

Chairman : Rahul Hakani
Vice-Chairman : Ranit Basu
Convenors : Abhishek Tilak, Ajinkya Udane, Nihar Mankad
Advisor : Pravin Veera, K. K. Ramani

Charitable Organizations are essentially formed to benefit the public at large. Government’s inability to create just and sustainable societies has prompted NGOs to help address a wide variety of social needs through various means and are working in the areas of providing relief and assistance to people at times of need in any part of the world, especially who are the victims of war, natural disaster, catastrophe, hunger, disease, poverty and orphans by supplying them with food, shelter, medical aid and other fundamental needs.

Charities supplement the Government’s efforts to alleviate the problems faced by its citizens. Unfortunately, in India, charitable organisations are highly regulated. Some states (including Maharashtra) also have their own laws governing charitable trusts. Recent amendments in section 11, 12AA, proposed changes in audit report format, section 115TD, etc. have made compliances by NGOs really challenging.

Date : Saturday, 14th September, 2019
Time : 9.00 am to 5.45 pm
Venue : BCAS, 7, Jolly Bhavan No. 2, New Marine Lines, Mumbai 400 020
Fees : Members: ₹ 2100/- + ₹ 378/- (18% GST) = ₹ 2478/-
Non Members: ₹ 2500/- + ₹ 450/- (18% GST) = ₹ 2950/-
(Fees is inclusive of Course Material, if any, Breakfast, Lunch & Tea)

We are also aware of the Government action of cancelling registration of more than 10000 NGOs for violation of FCRA 2010.

NGOs have been facing many issues right from registration under section 12AA to claiming exemptions, and some of the recent amendments in the Income-tax Act have many far-reaching implications on the very functioning of the charitable trusts. They have been grappling with some vexatious issues which include:

• Taxability of anonymous or pseudonymous donations
• Application of Accumulated Income
• Filing of Online audit report in Form 10B/10BB and Form 10 for accumulation
• Adventurous interpretation of the Law with a view to tax the NGO’s
• Denial for exemption in case of non-filing of tax return within the due date

To add to the complexities and increase the compliance, a charitable trust has also to consider the provisions of GST, which again has its own set of challenges and difficulties.

Finance Bill 2019 has introduced a new concept of Social Stock Exchanges in India which are already prevalent in other countries like UK, Singapore, Canada, etc. Will they help in the development and institutionalize the NGO sector?

To enable the profession to take on the challenges and to discharge professional responsibilities in a more informed manner, and to apprise the stakeholders of the provisions of the law and compliances, the Committee has organized this one-day Seminar.

Sr. No. Topics Speakers
1 • Presentation on Important Procedural Aspects for Trustees and Professionals
• Compliance and Issues under the Maharashtra Public Trusts Act
Mr. Sanjay Mehare(*)
Charity Commissioner (MH)
2 • The various Advantages and Disadvantages of Charitable institutions viz-a-viz Private Trust
• Interesting Aspects of the Proposed Social Stock Exchange
• Issues related to Formation of Minority Status Trust in present times.
CA Gautam Shah
3 • Issues on Taxation (including registration) of Charitable Trusts, including recent amendments
• Issues on Dissolution of Charitable Trust and Discussion regarding implication of section 115TD of the Income Tax Act.
• Recent controversial decisions in direct tax for trust
CA Gautam Nayak
4 • Issues under Foreign Contribution and Regulation Act (FCRA), 2010
• Registration & Renewal
• Compliance
• Accounts & Audit
• CSR Provisions related to Trusts
CA Anil Sathe
5 Issues under Goods & Services Tax (GST) for the NGO’s CA Sunil Gabhawalla
6 Hardships faced in the Office of Charity Commissioner Mr. Rakesh Pandey, Advocate
7 Issues of Charitable Institutions from Income Tax Point of View Mr. Satish Sharma(*) CIT (Exemptions)
8 Panel Discussion on various issues relating to NGO’s Mr. Satish Sharma (*) CIT (Exemptions)
CA Gautam Nayak, CA Anil Sathe
CA Sunil Gabhawalla
Moderator: CA Chetan Shah

(*) Subject to confirmation


September 14, 2019
9:00 am - 5:45 pm