Trust Registration
What is Trust?
A trust is an agreement between trustees to manage property over which they have control either to benefit of beneficiaries or for charitable purposes. A groups of trustees may be incorporated as a board under the Charitable Trusts Act 1957 if the objects are charitable.
What is Statutory Declaration?
The statutory declaration states whether any Trustees hold any property as trustees for other trusts, that at a meeting of the Trust a resolution was passed approving incorporation and that the person making the Declaration has been approved by the Trustees to make it.
Who is Trustee?
A trustee is a third party charged with taking care of the property owned by a living trust. In fact, legal title, meaning paper title, to the property in the living trust is actually held in the name of the trustee, subject to the terms of the living trust, for long as the property is in the living trust. The trustee takes care of all the administrative tasks relating to the trust, including preparing and filing all the required trust paperwork such as tax documents, conveyance documents and distributions to the beneficiary.
What are the benefit of Trust?
1. Once Regd under Trust act, can use the word “Govt. Regd.” or ‘Regd’
2. For opening School / Trust
3. For Computer Education where certificate is to be given
4. Income Tax Benefit
5. Recognition/Affiliation from any University / Organization
6. Grant from Govt.
7. Land from Govt.
8. 80G certificate benefit under Income Tax Act
9. Expenditure made on Registration of Trust is an Investment
10. Benefits in Entertainment Tax
Documents Required for Trust Registration
Proprietor
One Person Company
Private Limited
Public Limited
Partnership Firm
LLP
NGOProcess Involved
Step 1
Documentation
Step 2
Verification of Documents
Step 3
Trust Deed
Step 4
Visit to Department
Step 5
Registration Certificate
Step 6
PAN and TAN
FAQ'S
- Requirement for Trust Registration
- 1. Stamp Duty @3% on the Amount of Contribution. The Stamp Paper shall be in the name of Trust. 2. Demand Draft of Rs. 1,100 from bank account of Trustees 3. NOC on affidavit of Rs. 10 from the owner for the use of premises and any address Proof like utility Bill. 4. 2 Photographs of each of the Trustees & Settler / beneficiary 5. Aadhar Card of beneficiary. 6. If only receipt of Addhar Card is Available than any other proof of identity along with that receipt. 7. Settler / beneficiary shall be Physically Present. 8. Two Witnesses with their Identity Proof.(who shall bring in original also) 9. Signed Address Proof & Identity Proof of Trustees. 10. Principal office of Trust shall not be in un
- Can Trust be opened in unauthorized colony
- Principal office of Trust shall not be in unauthorized colony. This shall be ascertained prior to Drafting of Trust Deed by Providing Khasra No. and Village No. in advance so that it may be ascertained first. Khasra No. of the Property shall also be written in Trust Deed.
