Bringing a non operational trust to active state

Hi All, My parents with few other people had formed a Trust in 1997. The Trust is registered for Social Service activities. The trust has also obtained 80G exemption. Trust is registered in Bangalore Gandhinagar office. There was not much of activities as part of Trust as both my parents were working at that time and few other reasons. Till now the IT returns have not been filed in Trust's name even for a single year. My mother is the General Secretary of the Trust. Below are some of our doubts 1) What is the procedure to change the Trustee members including the President as few of them are expired or have become old? 2) Can land be bought in the name of the Trust? Do all the Trustees have to sign if land is being purchased in the name of the Trust? 3) Is it better to form a new Trust altogether rather than trying to bring this existing Trust to operation? Thanks and Regards Kiran

Hello Friend,

I am dealing with these types of Trusts affairs for some Years, I will suggest you to

(1) You should pass a Resolution to Retire or Admit New Members, Retireing or apponting Presedent and Secretary etc. and Inform it to the Registrar of Trust through proper Filing.

(2) Yes , You can buy any Movable or Immovable property in the name of Trust, You have to pass a Resolution to specify the Signing authority of the Deeds and Documents of the Trust, you can intimate it to the Bank also for operating the Bank Accounts.

(3) Its depends on you, but now a days its a little bit difficult to Form a New TRUST, its better you Continue the Old one. You cant dissolve it without updating and Filling completion with Income Tax Department as well as Registrar of TRusts.

You must go to the experts of Trusts to brought it to the Operation. For further clarafication you are always welcome.

Thanks & Regards

Nurul Hoda

(Accounts & Tax Consultant)

E-mail.: nurulhoda0 @ yahoo.com

Mobile: +919831500499