Trust Registration
Our Price
Market Price : INR 12,500
Our Price : INR 5,999 Only
Savings : INR 6,501
Govt Fees : Inclusive in the price above
Time for Registration : 15 to 20 Working Days
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Trust Registration
Indian Trust Act 1882 defines the Trust as an organization where the owner (trustor) decides to transfer the right of his property to a second person called trustee so that the third person (beneficiary) can take the benefit out of it. Such a property is moved by the trustor to the trustee alongside a declaration that the trustee should hold the property for the recipients of the Trust.
Trust registration begins with the drafting of a trust deed. Trust deed is the first requirement in the process of trust registration. Trust Deed is formed on the non-judicial stamp paper, every state has fixed its own rate on stamp duty. Book an appointment with the sub-registrar office once you are done with the trust deed. It is essential for all the trustees to appear before the sub-registrar on the appointment date along with the trust deed and two witnesses.
Elegibility
Eligibility Criteria for Trust Registration:
- There must be at least two or more persons for forming the trusts.
- The trust must be formed according to the provisions of the Indian Trusts Act, 1882.
- The parties must not be disqualified under any law in force in India.
- The objectives of the trust must not go against any law in force in India.
- Practices that are conducted by the trustee must be fair.
Documents for Trust Registration
Documents Required for Trust Registration
(Self Attested Documents are required)
Documents Required of Proposed Directors and Promoters
- Copy of PAN Card of all the Proposed Trustees and Settlors.
- Copy of ID Proof of all the Proposed Trustees and Settlors (Aadhar Card).
- Copy of Residential Proof of all the Proposed Trustees and Settlors (BankStatement/Electricity Bill/Telephone Bill/Mobilebill).
- Passport Size Photographs of all the Proposed Trustees and Settlors
Documents for Registered Office
- Electricity Bill/ Water Bill in the Name of Office Owner
- Rent Agreement & NOC (if office is on rent)
- NOC (If office is self-owned or owned by parents)
Type of Trust
Trust Is Classified Into Two Categories:
Public Trust
Public trust is created to provide benefit to the public at large, thus beneficiaries in the case of public trust is general public at large. Public Trust is further subdivided into two parts:
- Public Charitable Trust
- Public Religious Trust
Private Trust
Often families or individuals are beneficiaries in the case of private trust. Private trust is further subdivided into two parts:
- Private Trusts whose recipients and their imperative offers both can be resolved
- Private Trusts whose both or either the recipients and their imperative offers can’t be resolved
Frequently Asked Question
It is mandatory for a trust to get the registration under section 12AB of the Income-tax Act, 1961 so as to claim exemption under Section 11.
A trust is required to apply for registration in Form No. 10A