My name is shivam sinha this is for the testing purpose
11 Feb, 2023
In India, majority of the Trusts are registered as public charitable trust a form of a non-profit entity. In simple words it is a transfer of property by the owner to another for the benefit of a third person along with or without himself or a declaration by the owner, to hold the property, not for himself and another.
Public Charitable Trusts are formed for several purposes, including the social service, education, healthcare, provision of facilities for recreation, and any other object of general public welfare. In this article, we will learn about the Trust Registration in India.
3 types of individuals who can create Trust are as follows:
Usually, the Trust Deed is the document that establishes the registration of the Trust and usually details items such as:
A Trust Deed should be performed on Stamp Paper of a suitable value and singed by the settlor and in the presence of two witnesses. Once the Trust Deed is executed, it can be registered with the Local Registrar. The Registrar would then register the Trust, retain a photocopy of the Trust Deed. While the original registered Trust Deed should be given to the settlor.
Following documents are required for filing online Form 10A –
As per the notification no. 10/2018- Income Tax, an application, under Section 12A, Central Board of Direct Taxes or CBDT has substituted entire rule 17A which deals with the application for registration of charitable or religious trusts, etc. Under this article, we would look at the application procedure of trust after the implication of notification no. 10/2018-Income Tax.
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