Trust formation

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Nishitbangera (Querist)
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04 August 2011 How to form a Private trust.

What is the minimum capital required?
Where to file for registration of a private trust?
Is it necessary for a trust to have a regular source of income?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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04 August 2011 In a private trust the beneficiaries are one or more ascertainable individuals. In a public trust the beneficiaries are a body of uncertain or fluctuating individuals and may consist of a class of the public or the whole public. Generally, a private trust is not a permanent one. But a public trust is of a permanent nature. If properties are dedicated to temples and mosques or gifts are made to religious or charitable institutions they create a trust.

Procedure for registration
The following documents are required to be filed for registration of a Charitable Trust.

Covering Letter

Application Form in Form –Schedule II under rule 6 duly notarised

Court fee stamp of Rs. 2/- to be affixed on application form

Certified copy of the Trust Deed

Consent letter of Trustees. (Blank Form enclosed)

The office of the Charity Commissioner maintains a register containing all details of the Trust; viz., Reg.No., name and address of the Trust, names of all the Trustees (Past & Present), mode of succession of Trusteeship objects of the Trust, particulars of documents creating a Trust, description of movable and immovable properties, particulars of encumbrances on trust property etc. This register is known as P.T.Register. A certified copy of the P.T. Registrar in Schedule-I (vide Rule 5) can be obtained by applying in simple application with Rs.10/- Court fee stamp by paying prescribed fees for the same. It is advisable for all the trusts to have a certified copy of P.T. Register entry.

http://taxguru.in/income-tax/formation-taxation-of-charitable-trust.html

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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04 August 2011 for more info link is:-

https://www.caclubindia.com/share_files/ngo-registration-36660.asp