How to do Trust Registration
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- Опубликовано: 8 сен 2024
- In India, trusts are governed by the Indian Trust Act. A trust is, to put it simply, a financial vehicle that transfers a property from its owner to a #trust for any lawful purpose. In India, the word trust is most often connected with religion; however, there is no such restriction. There are even sports academies registered as trusts.
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What is a trust?
People create trusts for different reasons. A trust is a relationship whereby properties are held by one party for the benefit of another. A charitable trust is an irreversible trust established for charitable purposes. Trust deed is a document used to set up a trust.
What are the different types of trust?
There are two kinds of trust available in India:
1. private trust and
2. public or charitable trust.
What is a private trust?
1. A private trust is created for the benefit of one or more ascertainable beneficiaries, and not for the promotion of the welfare of the general public or for the advancement of a cause.
2. For example, Mr. Ravi wants to use his housing rental income to pay for the education of his nephew Raj. To do that he should set up a trust.
What is public trust?
1. Public or charitable trust is created for the promotion of public welfare and not for the benefit of one or more individuals. It may or may not be a charitable trust.
2. For example, Mr. Ram has set up an education trust “Shyam Edu Trust” in the name of his late father to help poor children with scholarships for continuing their education.
When does the trust need to be registered?
1. Usually, it is not mandatory to register a trust but in certain cases, it would be an obligation to register a trust. If you are involving your property (house or building) in the trust it needs to be registered.
2. Additionally, if you want any person donating money to the trust to get a tax exemption you need to have the tax registered. A section 80G exemption is possible if a person donates any money or property to your trust it can be deducted from their taxable income.
What are the rights of the trustee?
The rights of a trustee are usually as follows:
1. To manage and coordinate the activities of the trust,
2. To ensure that the property which belongs to the trust is properly managed.
3. To see that the beneficiaries are looked after.
4. Additional responsibilities may be mentioned in the trust deeds.
How to register a trust with Vakilsearch.
Step 1: A team will collect all the basic information such as the name of the trust, name, address, and DOB of the trustee, objectives, and activities of the trust.
Step 2: The lawyers will assist draft a trust deed within three to five working days approximately.
Step 3: A date for registration will be finalized by our team and shared with you. You would need to be present in the registration office in person with requested ID proof, address proof, and two witnesses.
Step 4: On completion of all the mentioned procedures a certificate and related documents will be provided within 15 to 20 days approximately. Once received the trust can be operated.
What are the important documents required by the customer?
1. ID proof of all the trustees,
2. Address proof of all the trustees, and
3. Rental agreement or property tax receipt for the registration purpose.
our professional charges for drafting the trust deed would be Rs 2799 plus service tax and Rs 2000 for processing the registration. The government and other miscellaneous expenses start from rupees 4000. Charges may vary from state to state.
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Thank you for this lecture.
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B. Pramanik & Associates
158, Dumdum Road, Kolkata - 700074 (Beside Dumdum Ghoshpara State Bank e-corner; Landmark - Dumdum Hanuman Mandir)
Email: bpramanikassociates@gmail.com
Website: www.bpramanikassociates.com
Phone: +91 9339055647 | 6291316573 | 6289064067
Thank you mam
Hi, i am from Tamilnadu,
I want to run an Old age home in Chennai, i need a legal adviser and guidance to register my old age home under a trust.
We'll be glad to help. You can reach out to us on WhatsApp at +917200365365 or email us at support@vakilsearch.com for assistance.
Contact us:
B. Pramanik & Associates
158, Dumdum Road, Kolkata - 700074 (Beside Dumdum Ghoshpara State Bank e-corner; Landmark - Dumdum Hanuman Mandir)
Email: bpramanikassociates@gmail.com
Website: www.bpramanikassociates.com
Phone: +91 9339055647 | 6291316573 | 6289064067
How many board members can be from a same family?
In a public trust
Hindhu temple trust rules yelaa raaste baaguntadhoo cheppandi
I rigestered a trust but President name is chaging.what is the proses of name change
Please WhatsApp us at +91 7200 365 365 for free legal advice.
Our school at Santacruz West has already certificate of registration for trust we lost original now require duplicate. Plz give idea
Hello,
My friends are setting a trust/ngo for women empowerment.
As a friend, they have requested me to provide my self owned home as the registered address for the trust. I'm not a trustee. If I do lend my address, then ,Is my property liable for any legal suits/ legal actions that they may face in the future?
Rajasthan me registered trust ka kya rules hai sir
Please give me right information.i would like to establish Trust
Please WhatsApp us at +91 7200 365 365 for free legal advice.
@@vakilsearchonline please call me sir
Wheather an government employee of an state, start a public trust, how to contact you??
Please WhatsApp us at +91 7200 365 365 for free legal advice.
मुझे भी ट्रस्ट खोलना है, क्या करना होगा,
Sir I'm from Tripura I want to register Trust for running and hostel... Can you help me
Dear Sir/Madam, sure Vakilsearch can help you register your Trust. Please send us a Whatsapp message to 7200365365 or write to support@vakilsearch.com Keep watching this space for more interesting videos.
Hai sir
Hi, how can we help you?
Sir , I want register a trust in Bihar kishanganj distt.
Tell me cost I have draft copy of the deed. If possible give a contact no.of an advocate you know here in kishanganj.
Please WhatsApp us at +91 7200 365 365 for free legal advice.
pleas apka number do
You can reach out to us on WhatsApp at +917200365365 or email us at support@vakilsearch.com for assistance.