Overview
Trust Registration Indian Trusts Act, 1882 regulates and administers the private trusts in India, while the e public trusts direct the functioning of public trusts except in the state of Maharashtra and Gujarat where public trusts are governed by Bombay Public Trusts Act, 1950.
In charitable trusts, the main instrument is the trust deed which incorporates the aims and objectives of the trust.
There is no upper limit for the trustees in a trust, but a minimum of two trustees should be there for trust creation.
The trust deed should have provisions with regard to management of trust, appointment of new trustee, powers of trustee and transferring the trust property to another trust with similar objects in case of dissolution of trust etc.
Public trusts after registration with the income tax can avail certain tax exemptions under section 12 A and 80G of the Income Tax Act. Team of S K Nagda & Company is expert Trust Registration Consultants.
