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TRUST REGISTRATION

A trust can be made by completing a trust deed; the trusts are of two types. A private trust which is created for the benefit of an individual also know as a beneficiary or particular group and the second one is a public trust also known as charitable trust is created or made for the benefit of the general public.
The first and foremost step to register a trust starts from drafting a good trust deed. IT is important that any trust deed is to be created on appropriate non-judicial stamp paper, every state has its rate of stamp duty. The second step is to book an appointment based on the registered office of the trust jurisdiction with the sub-registrar office, along with the government registration fee.
As per the appointed date assigned by the sub-registrar all trustees along with trust deed need to be present with two witnesses. It takes approx. two weeks for the registration process by the office of the sub-registrar, after that collect Registered deed can be collected. The third and most important step is to get the PAN Number and TAN Number allotted for the trust and then you can open a Bank A/c with any bank for your registered trust.

Why register a trust?

If your organization involves charitable purposes or if there is a transfer of immovable property on the name of the organization.
Registration of Trust is mandatory as per the Public Trust Act of all states.
Tax exemptions can only be provided to the registered trust under Section 12 A and 80G of the Income Tax Act.
Credibility will be more if the trust is registered as it involves money of individuals in the form of donations.

Who can form a Trust?

Trust for any legal purpose(s) can be formed or created by Any individual over 18 years of age. . Apart from individuals, an association of persons, a company, society or firm is also eligible for creating trust. In a special case of a minor, the permission of a principal civil court of original jurisdiction is required to create a trust on behalf of a minor.
you are looking for Trust registration anywhere in India, then you are at the right place TAXLOCK has a team of professionals who can provide you with all the assistance about the registration of this entity. Our professionals will make sure that your trust gets registered with minimum effort and in proper time.
Our panel of professionals at TAXLOCK with their sound professional knowledge helped many organizations to meet their requirement to register themselves as one licensed charitable or non-profit institutions.

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