SEO Sai Gr. Hosp.
210818 Points
Joined July 2016
Usually such activities are carried out by formation of Trust.
The instrument by which trust is created is called as Trust Deed. Although it is not mandatory for trusts to enter into such deed agreement, but the same is needed to get the registered under the Income Tax Act for availing the exemptions and more over a deed is a prima facie evidence of the existence of a trust.
- The name(s) of the author(s)/settlor(s) of the trust.
- The name(s) of the trustee(s).
- The name(s) if any, of the beneficiary/ies or whether it shall be the public at large. xv. The name by which the trust shall be known.
- The name where its principal and/or other offices shall be situated.
- The property that shall devolve upon the trustee(s) under the trust for the benefit of the beneficiary/ies.
- An intention to divest the trust property upon the trustee(s).
- The objects of the trust.
- The procedure for appointment, removal or replacement of a trustee, their rights, duties and powers etc.
- The rights and duties of the beneficiary/ies.
- The mode and method of determination of the trust.