Trust Registration

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Managing &
Protecting Assets

Governance
Facilitation

Avoid Compulsory
Succession

A Trust is a closer system of a registered body with limited membership. It can be a family trust or a public trust. Election of office-bearers is not compulsory. Normally Trusts are created by dedicating some property to a charitable purpose, however, some cash fund may also be spared by the trust or trustees for charitable purpose while creating a trust.

In case of trust the registrar or sub-registrar having authority to register properties has the authority to register the Trust Deed. Trust Deed of the proposed Trust may be registered with Tehsildar, or registrar properties and endowment at the district collectorate.

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Key Features & Benefits

Law for Trust are governed by Relevant State Trust.
Two persons are required to form a trust with no upper limit.
Preparation of Trust Deed containing aims & objectives of forming a trust.
Change in composition of Board mainly by appointment.
Alteration in main objects laid down in Trust Deed done by settler.
Stamp Duty required on Trust Deed.

12A & 80G Certificates

A Trust or an NGO can acquire 12A certificate from the Income Tax Department. Thus, a Trust acquiring such a certificate is exempted to pay income tax for the entire lifetime on its surplus income.

Also, an NGO must obtain 80G certificate. This certificate allows donors, that is persons or organizations making donations to an 80G certified NGO, to avail deduction. Thus, such a deduction is given to the donors under section 80G of the Income Tax Act.

Registration Process

The following documents are submitted with the local registrar:

Trust Deed on stamp paper of the requisite value,
Passport size photograph & copy of the proof of identity of the settler,
Passport size photograph & copy of the proof of identity of each of the trustees,
Passport size photograph & copy of the proof of identity of each of the two witnesses,
Signature of settler on all the pages of the Trust Deed,
Signatures of the two witnesses on the Trust Deed.

The settler & two witnesses are required to be personally present in the office of the Registrar, along with their.
Identity proof in the original.
The Registrar retains the photocopy & returns the original registered copy of the Trust Deed.

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