Benefits Of Trust Registration
- Trust gets Land from the government
- It gets 80G certificate benefit under Income Tax Act
- Trust registration in Coimbatore will gain popularity.
- It gets white capital for construction of building
- Trust can collect funds and use it for a common cause
The State government has decided to regulate the trusts, with provisions for various factors, including registration of trusts, management of their property, audit and control over their administration.
Trust registration in Coimbatore is incorporated under the Tamil Nadu Public Trusts Act, 2020. A person will be disqualified as trustee of a public trust for various reasons, including if a person has been convicted by a criminal court for any offence or dismissed from service under Central or State government authorities. The Registrar has been entrusted with powers, including inspection of properties belonging to a public trust and inspection of proceedings of trustees or accounts in the control of trustees.