New mandatory format for financial statements of societies and trusts from FY 2025-26
ICAI's Accounting Standards Board has notified a prescribed format for non-corporate entities. Organisations with turnover above Rs. 5 crore are already in Phase I — meaning the format applies to their current year's financials. All others follow from FY 2026-27. View the format →
Your questions answered
Can your organisation use Special Allowance to stay within the Labour Code's 50% wage threshold?
The new Labour Codes redefine what counts as "wages" — and if excluded components like HRA and conveyance cross a threshold, they get pulled back in. That reshapes your PF, gratuity, and bonus obligations. It's not just a payroll adjustment. Read more →
When a charitable trust invests surplus funds in government bonds, which frameworks apply — and what approvals does it need?
A trustee asked whether their trust could invest in government securities, whether a board resolution is required, and what happens when the investment crosses 50% of total funds. The answer involves two separate legal frameworks, and one threshold that brings another authority into the picture. Read more →