Trusts & NGOs Your Queries on Audit Reports Income-tax Return ITR-7 by Manoj Fogla, Suresh Kumar Kejriwal, Tarun Kumar Madaan – Edition 2024

Description

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