Whether a company can be trustee in a charitable trust
This query is : Resolved
07 November 2013
Dear Sirs
Whether a company can become a trustee in a charitable trust
Whether a company can become a trustee in a charitable trust
10 November 2013
Hi
Who can Create a Trust
A Trust can be created by any person competent to contract or even by a manner with the authority of a competent court and respect of any property which is transferable and over which the author of the trust has dispossessing power.
Trust, Private and Public
A Trust may be Private and Public.
When the purpose of the trust is to benefit an individual or a group of individuals or his or their descendants for any legal person and who is capable of holding property, it is a private trust.
When the purpose of the trust is to the benefit the public or any section of the public, it is public trust.
Who can be a trustee
A trustee can be any person that is, an individual or a corporate body or a corporate sole, capable of holding property and competent to contract. and he must accept the trust.
Who can Create a Trust
A Trust can be created by any person competent to contract or even by a manner with the authority of a competent court and respect of any property which is transferable and over which the author of the trust has dispossessing power.
Trust, Private and Public
A Trust may be Private and Public.
When the purpose of the trust is to benefit an individual or a group of individuals or his or their descendants for any legal person and who is capable of holding property, it is a private trust.
When the purpose of the trust is to the benefit the public or any section of the public, it is public trust.
Who can be a trustee
A trustee can be any person that is, an individual or a corporate body or a corporate sole, capable of holding property and competent to contract. and he must accept the trust.
10 November 2013
For more details on trust, go to the following link:
https://www.expertlawyer.in/form_a_trust_in_india.aspx
https://www.expertlawyer.in/form_a_trust_in_india.aspx
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- Multiple payment of self assessment tax for A Y 2025-2026
- REGARDING ITR FILING QUESTION
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- ITC BENEFIT ON BROKRAGE PAID
- Taxation on Old jewellery sold
- Short Term Gain Reporting ITR
- Query regarding reporting of exempt foreign remuneration in ITR
- Gst reverse charge mechanism to be claimed in the month of payment
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
