Patnaconsultant provides Trust registration services, trust formation services, trust auditing services and trust tax consultancy services. Trust is type of NGO (Non Profit Organization) which is runs by the persons or entities who wants do to something for our society. We will give you all important information about Trust Registration in this article in brief. We will also help you in documents preparation for daily business of the Trusts.
Trust is registered as per provisions of Indian Trust Act, 1882. Indian Trust Act, 1882 provides Trust is classified into two types.
- Private trust in which beneficiaries is individuals or families.
- Public Trust in which beneficiary is large number of normal public.
In Trust all profits is used to promotion of public welfare. Trust are made for providing social welfare works like women empowerment, Girls educations, education for all peoples, providing safety benefit to Animals, Setting up of school , Collages, Hospitals Old Age Homes, Orphanage etc. Trust registration is created by execution of trust deed non judicial stamp paper (in Bihar stamp duty is differs from other states). In Trust registration minimum 3 members is required at a time of registration after registration number can be increased by Resolution in Trust meeting. Trusty, president and Settler is main post in Trust Formation. All day to day activity of trusts is runs by the President of Trust. All assets of Trust are property of Trust not its members. In Trust Registration no limit for the members is given by this act. Trustees is only worker of trust, Trust is legal entity in eyes of law.
Advantage of Trust Registration
- Providing social works for the benefits of society.
- Providing benefit in claiming exemption under income tax.
- For the Welfare of the beneficiary and his family member
- For CSR activities of companies
- Donations from Governments and other publics.
- Limited liability of Members
- Flexibility in distribution of benefit among beneficiary.
Process of Trust Registration
- Preparation of trust deed on non judicial Stamp paper.
- Government registration fee payment.
- Registration made with sub registrar office where the registered office of trust is situated.
- All members present during the registration with his documents and two witnesses.
- After 3 or 4 working days registered Trust deed is collected from sub registrar office.
Can we do Trust Registration online?
Till now Trust registration is fully based on offline registration. In which involvement of State Government is mandatory through sub registrar. Send us your all documents we will prepared trust Deed and after that one day all members are coming to sub registrar office. You can pay us online .