Proposed Trustees and settlers:
- PAN Card
- Aadhar Card.
- Passport Size Photo
Register Office documents:
- Rental agreement if office is taken on Rent
- Electricity bill
As per Trust Act 1882, it is an arrangement where the owner transfers the property to someone else for the benefit of a third person. A trust can be formed for charitable purposes further it is subdivided into Public Charitable Trust and Public Religious Trust. Trust undertake public welfare activities with a charitable purpose. A trust also be formed for the welfare of family members and their relative’s dependent upon settlor. Almost every big business has formed its own trust to fund their donations to public welfare. It will help them to avail the tax benefit under income tax act. Settlers cannot be trustees and they should be an Indian resident. Trust is made-up of trust deed which includes the objectives and regulations of the trust.
Trust can be formed with a minimum of 2 members and a maximum of 21 members.
A trust can be formed as per Section 4 of Indian Trust Act 1882 for a lawful purpose;
A trust should have a document written and signed by trustees or a sole trustee; A trust can be formed through a will also;
There is no definite form to create a trust. Objectives of the trust should be clear and unambiguous;
The following can form a trust under Sec.7 of the Indian Trusts Act 1882: A person capable of making contract can form a trust; Trust can be formed on behalf of minor with permission of Civil Court.
A trust can be cancelled on the following grounds as per Sec. 78 of the Indian Trust Act 1882: Trust can be cancelled at the will of the trustees; Trust can be cancelled if there is provision for cancellation in the deed. If author of a trust creates trust for the purpose of repayment of his debt and if this neither is nor informed to the creditor author can cancel the trust.
Yes, amendment can be made a rectification or supplementary deed
An trust has basically 3 min posts which that of a President, General Secretary and Treasurer. In some cases, you can also have a Vice President.
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