Trust Registration

    Trust Registration

    Indian Trust Act 1882 defines the trust as an organization where the owner decides to transfer the right of his property to a second person called a trustee so that the third person called beneficiary can take the benefit out of it. 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 of 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 appear before the sub-registrar on the appointment date along with the trust deed and two witnesses.

    There are two types of trust: Public and Private Trust /-

    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 trusts. Private trust is further subdivided into two parts:

    • Private Trusts whose recipients and their imperative offers both can be resolved
    • Private Trusts who’s both or either the recipients and their imperative offers can’t be resolved

    The Income Tax Department issues 12A certificate to the trusts or NGOs. Any trust that has 12A certificate is not liable to pay Income tax for the entire lifetime on its surplus income.

    Additionally, an NGO must acquire 80G certificate. This certification gives the donor a permission to avail the benefit of deduction at the time of making a donation. Thus, you can say deduction is offered to the donors under section 80G of the Income Tax Act.

    Trust Registration Process

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      Documents Required for Trust Registration in India

      Proof of Identity

      Self attested copies of Aadhar card, Pan Card for the trustor and trustee.

      Address Proof Of Registered Office

      Copy of Certificate of Property Registration or copy of utility bills.

      Trust Deed on a Stamp Papper

      The original trust deed or a certified copy of trust deed

      NOC form Landlord

      A no objection certificate of from the landlord of a rented property.

      What do you get

      Registered Trust Deed

      PAN AND TAN

      FAQs for Trust Registration

      The enlistment of a Trust is fundamental from two edges:
      It is really not critical to have a created trust deed for the gainful trust/severe trusts, social requests and associations. From the functional point of view, notwithstanding, it is continually fitting for beneficent trusts have a real enrolled trust deed.

      The explanation behind which an open trust can be made is the upside of generally speaking populace, and the identification must be clearly embraced in the trust deed, as it deals with its working all through time. All things considered an open trust is made for setting up a school, colleges, other enlightening exercises, facility, adult age homes, asylum, for headway of child prosperity and their fortifying, government help of more delicate section of society, and for fulfillment of Corporate Social Responsibilities (CSR) by associations under region 135 of the Companies Act, 2013.

      • Trust Deed is the primary most important document which you will require at the time of Trust Registration. Trust Deed contains the following information:
      • Motive of the Trust
      • Information of the Settler and trustees like Name, Age, Father’s Name, Address, Occupation, Mobile Number, Email Address, Designation
      • Total number of Trustees
      • Address of the registered office of the trust
      • Rules and regulations that the trust will follow
      • Proposed name of the Trust
      • A copy of identity, proof of the settler and trustee
      • Passport size photograph of the settler and trustee
      • Presence of the Settler along with original identity proof and two witnesses at the time of registration. Some states have made the presence of trustee mandatory as well.

      The enlistment of Trust or Trust Deed Registration is a one and the same thing and each state have supported an indisputable case for trust enrollment. Likewise, there is no uniform trust enrollment structure to enroll a trust. The basic reports to enroll a trust is the trust deed and KYC records of its maker, trustee and onlooker of the trust deed.

      A trust deed is an ordinary report spreading out the social events related to a trust and the rules for passing on trust property to beneficiaries. Simply a revocable trust can be modified once made. Changes can be made unmistakably during the trust grantor’s lifetime.