I have a query regarding - Registration of Private Discretionary Trust. Actually the Private Discretionary Trust was Registered with the Sub-Registrar of Registration on 27.08.2003 with movable property by the Settlor to the Trustees in Cash on execution for a sum of Rs. 1,00,000/- Now the Trust has Immovable Properties in its Trust name.
My Query is : Whether it has to be Registered with the Registrar of Assurances or Societies/Trust Registrar and have to obtain Registration Certificate or not????
Based on the Declaration of Trust Deed Registered with Sub-Registrar, we have obtained PAN Card and filing normal IT Returns. For inclusion of New Trustee and vacating of existing trustee whether we have to approach the Sub-Registrar Registration Concerned, else with whom we have to do this work???
Only Registration was made with Sub-Registrar of Registration. And no other formalities with regard to obtaining of RC was done....
I request the experts and members of this forum to kindly provide me clarity to this issue.
Thanks & Regards,