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Trust Registration

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Trust Registration

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Trust Registration

According to Indian Trust Act, a trust may be formed for a range of purposes such as Public Charitable Trust & Religious Trust. A Charitable Trust is created for the purpose of the benefit of the general public or mankind. This kind of trust can be formed by an individual who loves doing such things and not a minor. Any person who holds the property so dedicated shall hold it under trust and shall execute the purposes specified by the settler.

A public charitable trust is usually floated when there is property involved, especially in terms of land and building. The main instrument of any public charitable trust is the trust deed, wherein the aims and objects and mode of management (of the trust) should be enshrined. A trust needs a minimum of two trustees; there is no upper limit to the number of trustees. The Board of Management comprises the trustees. The Objects are Social benefits & Charitable etc.

At registrationwala, our team of professional helps you set up a trust in the most feasible and effective way. We help you take approval on all mandatory legal obligations and carry out all necessary paper work feasibly.

Benefits of Trust Registration

Avoiding Probate

Avoiding Probate

It would be easy to avoid many hassles, cost and lack of privacy concern this way by keeping certain property out of your probate estate.
Estate Protection

Estate Protection

This is the most effective way to protect your property even it becomes someone else’s estate.
Benefits to Charities & Institutions

Benefits to Charities & Institutions

You can lend help to charities by creating a charitable trust that may award money to the needy people while you’re still alive. It would give more money in case of your death followed by regular payments out of the remainder. There is a possibility of limited liability in case of a corporate trustee.

Frequently Asked Question

WHAT IS TRUST DEED?

Trusts are registered using a document called TRUST DEED. This document contains all the information about the Trust. Along with these papers you would need to attach a Non-Judicial stamp paper. All the Trustees and witnesses will have to signatures on the Trust Deed. For registering a trust you need minimum two trustees. You can decide the maximum number of trustees and this number must be mentioned in the trust deed. A person who creates a trust is called the settlor, the person to whom the property is transferred on trust is called a trustee and the person for whose benefit the property is transferred is called the beneficiary are required to mention in trust deed.

WHAT ARE THE DOCUMENTS NEED TO BE SUBMITED FOR REGISTRATION OF TRUST?

The DGFT has provided online filing facility for obtaining IEC and other authorizations. Applications which are complete in all respects are normally disposed of within two days. For practical purposes, you can provide for a week’s time (after factoring in the time required to make any changes in case your initial application is incomplete in some respect).

HOW A TRUST IS REGISTERED?

Trusts are registered using a document called TRUST DEED. This document contains all the information about the Trust. Along with these papers you would need to attach a Non-Judicial stamp paper. All the Trustees and witnesses will have to signatures on the Trust Deed. For registering a trust you need minimum two trustees. You can decide the maximum number of trustees and this number must be mentioned in the trust deed. A person who creates a trust is called the settlor, the person to whom the property is transferred on trust is called a trustee and the person for whose benefit the property is transferred is called the beneficiary are required to mention in trust deed.

HOW TO SELECT THE NAME OF SOCIETY?

As per the Society Registration Act 1860 similar & resemblance of name with existing registered society is not permitted. The Name proposed should not suggest or be calculated to suggest the patronage of the Government of India or the Government of State or connection with any legal authority under any law for the time being in force. Selecting the name of the proposed Society and getting it approved by the Registrar of the concerned district is the first step.

WHAT ARE THE DOCUMENTS NEED TO BE SUBMITTED FOR REGISRATION OF SOCIETY?

Submission of following documents to “The Deputy Director/Registrar (Firms and Societies)” Deptt. of Industry, Govt. of Delhi, C.P.O. Building Kashmere Gate, Delhi.

  • Request letter to register a society under SR Act 1860.
  • Two sets of memorandum of Association including (i) List of Proposed governing body & (ii) List of Desire’s Persons (founder members of the society) - All pages to be signed by atleast seven members. Desirous persons or the person subscribing the names of the memorandum should not be (in any case) less than seven. If it is proposed to give all India character to the society there must be minimum of eight different persons from different States of Indian Union to the memorandum.
  • Two sets of Rules & Regulations framed for the functioning of the society.
  • Affidavits (on ten rupees stamp paper from President/Secretary society regarding the name/ title of the society.
  • Copy of residence proof of all desirous persons.
  • Copy of Proof of identification of the desirous persons.
  • Proof of ownership of the registered office of the society and no objection certificate (on ten rupees stamp paper)
  • A copy of the report of the proceedings of the General meeting at which the registration of the Society was resolved.
HOW TO REGISTER A SOCEITY?

For certified copy of MOA & RR for a registered society a fees of Rs.1/- per page will be charged. Application to this effect should contain the Name, Reg. No and must be signed by the General secretary or the President of the society. After approval for registration, a fee of Rs 50/- in cash is charged. The Registrar of Society on satisfaction of documents Issue a Registration Certificate to the Society.

WHAT ARE THE COMPLIANCES AFTER REGISTRATION?
  • Obtaining a PAN card for the society from the Income Tax Department.
  • Opening a Bank account for the society for the regulation of funds of the society.
  • Getting the exemption under Section 80 (G) of the Income Tax Act for exempting the donations from taxation.
  • Getting clearances from RBI for receipt of foreign funds in the society.

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