In India there are many religious/charitable trusts for e.g. temples, Ashram, Gurudwaras, hospitals, educational, etc. propagating and working for social and charitable activities. What about their financial and taxing matters?
These trusts have to follow many regulations. Mainly they have to follow the rules of Bombay Public Trust Act (For Maharashtra State), Indian Societies Act, Companies Act (old sec 25 and new section 8) and Income Tax Act. Further if the trust receives donation from foreign then registration under Foreign Contribution Regulation Act is required.