Trust Registration in Pune

Trust means transferring property from the owner to some other person. Trust can be created executing the trust deed. There are 2 types of trusts where private trust is formed for the benefit of a group of people and public trust is formed to benefit the general public. To start an NGO, public trust is the most convenient way. Trust functions to eradicate poverty, offer medical relief and provide education to the underprivileged. Its general aim is to promote arts, science and literature. Trust cannot be amended/terminated without the permission of the court.

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Required Documents

(Document required of all trustees, it must be self-attested)

  1. Name of the Society/Trust
  2. Address of the Society/Trust.
  3. Name, Age, Addresses of the Trustees (Minimum 7)
  4. Main Objects of the Society/Trust.
  5. Office bearers e.g. President, Secretary and Treasurer.
  6. ID and Address Proof of the Trustees.
  7. 100 Rs. Stamp Paper in the name of the Applicant
  8. Copy of Light bill and Tax Paid Receipt of the Address used for the Trust.

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Steps for Trust Registration in Pune

1
Step 1
Select appropriate name
Step 1
2
Step 2
Drafting of Trust Deed
Step 2
3
Step 3
Trust Registration is done
Step 3
4
Step 4
Get PAN & TAN
Step 4
5
Step 5
Open a Bank A/c
Step 5
6
Step 6

Trust Registration in Pune

Trust means transferring property from the owner to some other person. Trust can be created executing the trust deed. There are 2 types of trusts where private trust is formed for the benefit of a group of people and public trust is formed to benefit the general public. To start an NGO, public trust is the most convenient way. Trust functions to eradicate poverty, offer medical relief and provide education to the underprivileged. Its general aim is to promote arts, science and literature. Trust cannot be amended/terminated without the permission of the court.

Get Informed about:

Regulators and Administrators:

Public Trusts are governed by Bombay Public Trusts Act, 1950 all over India expect the functioning of the Trusts in States of Maharashtra and Gujarat. Public Trusts in Maharashtra comes under Maharashtra Public Trusts 1950.

Private Trusts comes under the regulations of Indian Trusts Act, 1882.

No. of Members: Trust can be formed with Trustor/Author, Trustee and beneficiary. Minimum two members are required and there is no maximum limit for adding members. While registering the Trust, provision regarding the management of Trust, procedure of appointing and removing members need to be mentioned.

Objective: Trust needs to be formed for a lawful objective and not in unlawful or fraudulent or invalid purpose. The objective of Trust should be valid and generous.

Trusts Instrument: Trust deed or say Trusts Instrument is most important part of the trust and its formation. The objectives of trust along with information of the beneficiaries of trusts, the power of trustees all are mentioned in Trust Deed. Trust Deed is to be signed by all the partners in front of Registrar in presence of two witnesses.

Benefits: Public Trusts can avail the tax exemptions once registered with the Income Tax and get benefit of it. Whereas Private Trusts do not get the tax benefit also can’t get any government privileges or scheme benefit.

Minimum Requirements

What You Get

Frequently Asked Questions

  1. What are the modes to create a trust?
    • Deed of trust or
    • Will or
    • Scheme framed by court or
    • Written constitution
  1. What is an eligibility criterion to form trust?
    • Trust can be formed by:
    • An individual, HUF, Company, AOP, Partnership Firm etc. i.e. person competent to contracts.
    • In case of minor the permission is required from Principal Civil Court of specific jurisdiction.
  1. Is trusteeship for lifetime?
    • Yes, and further the assets or property is divided into beneficiaries as per mentioned.
  1. What are the types of trust?
    • There are two types of trust:
    • Private trusts: formed for the benefit of a group of people (close group) such as club, relatives.
    • Public trust: formed to benefit the general public such as NGO’s, charitable foundations.
  1. Is it mandatory for a trust to file return of income?
    • It is mandatory for a trust referred to in Sections 139(4A)​, 139(4C)139(4D)and 139(4E) to file the return of income.
    • Further, a trust (not covered in above provision) is required to file return of income if its gross total income exceeds the maximum amount which is not chargeable to tax.

(Source; www.incometaxindia.gov.in)

  1. Is it is required to register trust?
    • Yes, it is advices to get proper registered trust deed.
    • To get more information on same kindly contact us.
  1. What is limit of members for trust?
    • Trust can be formed with Trustor/Author, Trustee and beneficiary.
    • Minimum two members are required and there is no maximum limit for adding members
  1. Is recording/informing any change to the authority, necessary?
    • Yes, it is necessary to maintain all records and information.
  1. How many meetings should the trust conduct during a year?
    • Ideally 4 to 6 meetings in a year are conducted by trust.
  1. Can a trust be dissolved?
    • There is no provision under the various Public Trusts Acts to legally terminate/dissolve a valid public charitable trust.
  1. If you still have any query?
    • Then kindly contact us on (mobile no.) or email (email Id)

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