Trust Registration

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What is Trust?

As per the Indian Trust Act 1882, a Trust is an arrangement where the owner (Trustor) hand over the property to someone else (trustee) for the sake of a third person (beneficiary).
Such a property is transferred by the trustor to the trustee with a proclamation that the trustee must hold the property for the devisee of the Trust.
Moreover, Trusts can be classified into two categories such as Public Trust and Private Trust

Public Trust –

Unlike the other limited companies like private, public, or one person, a section 8 company does not require indeed share capital to set up the entity. The members can use the funds directly from their donations and subscriptions.

Private Trust –

What is the Trust Registration?

Trust registration refers to the process of formally recording the creation of a trust with the relevant legal authorities. A trust can be created by any person in India who is proficient to contract, having in his/her power any property with its transferable. The person building the Trust is called the Settlor and the person to whom the property is handed over on trust is called a Trustee. The person for whose advantage the property is transferred is called the beneficiary

What are the Benefits of National Trust Registration?

The purpose behind creating any trust is to indulge in charitable activities and at the same time avail the advantages of tax exemption. These charitable trusts are also known as a non-profitable organization.
The purpose behind creating any trust is to indulge in charitable activities and at the same time avail the advantages of tax exemption. These charitable trusts are also known as a non-profitable organization.
Trust Deed is important to register a charitable trust as a charitable trust is known as a trust deed
The Federal and State Law Departments in India give a diversity of assets to manage the charitable associations and common people. This procedure helps those donors who want to donate their assets to the trust, making them trustees fully expecting to receive tax benefits.

Who is eligible to create a Trust?

The person who creates the trust and transfers assets into it is known as the settlor or grantor. Any individual or entity with the legal capacity to own and transfer property can usually create a trust.

Trustees are responsible for managing and administering the trust in accordance with its terms and the applicable laws. Trustees can be individuals or corporate entities, and they must be legally competent to act as trustees.

Trusts are created for the benefit of one or more beneficiaries. Beneficiaries can include individuals, groups of individuals, or even charitable organizations. Beneficiaries may be named specifically in the trust document or identified through a class description.

Documents Required

President

Settlor

Trustee

Aadhar card

Pancard

Photo

What is the procedure for NGO Trust Registration Online?

Choose a unique name for your trust, the name must be new and should not lead to any infringement.

The trust deed must be drafted wherein the gatherings to the deed would be the settlor(creator of the trust deed), the trustee, and the recipient.

A trust deed is a type of document that includes all the crucial information related to registration and should present it before the registrar of the trusts having jurisdiction

The final step in the process of Trust registration is to apply for an allocation of PAN number and TAN afterward apply for the bank account

FAQs

Common Questions About Our Consulting Services

Minimum members are required for Trust Registration?

Minimum 3 members are required to register a Trust i.e, President, settlor and Trustee

Is it necessary to register a trust?

Yes, it is necessary to register the Trust if you want to avail tax benefits under Income Tax Act, government grants and private donations etc.

Who can prepare a trust deed?

A trust usually includes three parties which are a settler, otherwise called a creator of the trust, a trustee, and a recipient.

How to avail the tax benefits after Trust Registration?

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