Trust registration in India
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Procedure for Trust Registration in India
Create a trust deed or agreement that mentions the terms of the trust.
Identify the trustee, who will be responsible for managing the trust assets and carrying out the terms of the trust.
Identify the beneficiaries.
File the necessary paperwork with the appropriate government agency.
Pay the registration fees.
3 reasons to register your Public Trust
Here are the major reasons why people prefer Trust:
Leverage a larger platform to make a difference
A public trust is a purpose-driven and transparent entity that can be used to further the causes of a particular segment of the society. It has specific powers and duties that are conferred by the Income Tax Act, Public Trust Act of that state and The Indian Trusts Act, 1882 . While this enables it to operate on a larger platform than personal contributions, it does not involve any individual management or control as with a private trust.
01
Eligible for tax exemptions under Section 12 A and 80G of the Income Tax Act
02
Adds more credibility as it involves public money in the form of donations
03
A public trust act requirement if charitable work is involved
