Charitable trust, FEMA?

Others 1013 views 2 replies

Max Payne

employed

2574 Points Posted on 06 February 2010

Dear friends,

This is not a tax topic, but i know this is where max activity happens, so here goes...

Please give me information regarding following matters in formation of a trust........

Any info would be very helpful....

1,   Is there a minimum number of person in a charity organization?

2.   This organization will have to receive funds from abroad and India. What are the restrictions for ths.

3.   Can any foreigner become a member in this? If so, what are the formalities.

4.  Is it necessary that everybody has to be physically present at the time of registration?

5.  Suppose if some foreigner children create a charity organization here, and to do some charity work in India, is there any restrictions?

Thanks in advance...

Yours truly, GK......

Replies (2)

Anumanchipalli Sathikonda

Tax Consultant

1559 Points Posted on 08 February 2010

Mr.G.K.

I will try to anser a few.

Question No.2: You have to obtain permission from the Ministry of Home Affairs, Govt. of India under Foreign Contributions Receipts Act.

Question No.4: Yes every officer bearer has to appeal before the registrar of societies if it is soceity to be registered.

Best Wishes

Sathikonda

Amir

Learner

4016 Points Posted on 08 February 2010

Dear G.K.

I know, u can say that my answers are quite clever since it has not given a perfect solution to any problem :))

Bro, u have written any info would be helpful,

1) & 5) Minimum numbers will depend upon the "provisions of Statute under which u r seeking registration" say - Companies Act (sec 25), Trust Act, societies Act, etc

2) & 3) & 4)In addition to what Sathikonda sir has mentioned, again the relevant laws would decide - "Bye laws in case of socities", "articles in case of companies", etc