Trust at a glance : A Trust is registered and governed by Indian Trust Act, 1882. Income Tax Act, 1961, defines a Trust as “An arrangement by which property is handed over to or vested in a person, to use and dispose off for the benefit of another person”. Creation of a Trust can be broadly classified into two methods namely Public Trust (Charitable Trust); and Private Trust formation.
Validation of a Private Trust : For valid constitution of a Trust, the author must indicate with reasonable certainty-
- The intention on his part to create a Trust.
- The purpose of the Trust.
- The beneficiaries and the certainty revolving the beneficiary. An alternative beneficiary must be nominated.
- The Trust property.
- Transfer of property to the Trust.
Documents requirement for Trust Registration in India
- Registered Office address Proof ( Own property - Sales Deed/Lease Deed/POA & NOC from Owner)
- Registered Office address Proof (Rented premises - Rent Agreement with One Utility Bill and NOC from Owner on Rs 50/- stamp paper)
- Members/Trustee's ID and Address Proof ( PAN Card Copy with Aadhar/Voter ID/Driving License/Passport)
- Trust Deed
- Photograph of all Members
- List of Body Members with fathers name, detail address, Occupation, Mobile number, Email ID, Signature
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