Trust Registration Services
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Process involved in Trust Registration
Taking care of your Trust Registration Needs
At Compliancekart, we provide hassle-free trust Deed Registration Services. Our expert team will be of great help to you when you have a series of queries that need apt answers.We’ll also help you with Online Trust Registration! We don’t just take care of trust registrations, we also take care of other Company Registrations like Society registration , Producer company registration and Foreign compnay registration.
Benefit Of Getting Your Firm Registered as A Trust
Most people set up a trust with the purpose of getting involved in charitable activities and also acquiring certain benefits. Trust registrations also help in tax exemption. Charitable trusts are nonprofit organizations. However, to benefit from all these advantages, the charitable trust should have a legal entity.The formation of every trust involves the Registration of a deed. Therefore, the Charitable Trust Registration is also referred to as a trust deed.There are quite a few resources provided by The Federal and State Law Departments in India to guide the charitable organizations and the common people. Donors not only get the tax benefits but also the hope to pass the assets on to their legal heirs. This is the reason donors become interested in investing their assets in a reputable trust organization.Registering a firm as a charitable trust requires you to have some basic knowledge about how to set up a new trust in terms of its registration, the requirements for registration and the fees payable for the Registration are concerned. Both, the Federal and the State authorities have set up their system of Registration of Charitable Trusts.
Trust Registration process in India
For the trust registration under ‘The Indian Trust Act, 1882”, the following documents are mandatory:
- A bill of water or electricity mentioning the address which needs to be registered.
- The identity proof of minimum of two members of the entity. The identify proof can be:
- Driving License
- Voter ID
- Aadhaar Card
- Passport
- After paying the fee for the registration process, it takes around 8 to 10 days for online trust registration as per the norms of the Indian Trust Act – 1882.
- Before the legal document becomes valid all around the country, the applicant has to submit a presentation at the corresponding registrar’s office.
Stepwise Registration Process for NGO Trust registration
- Step 1:
Fill the NGO Registration Form, the applicant has to fill all the needed details in the simple application form.
- Step 2:
Assemble the Prerequisites details, here you have to collect all the required documents as per the specifications. And it takes around 2 working days
- Step 3:
Compile a trust deed, as per the documents provided by you for the registration process, a Trust deed will be compiled. This process will take around 4 to 5 working days
- Step 4:
Trust Deed Registration process, the trust deed so compiled will be presented to the concerned local registrar for registration. It takes around 12-13 working days to complete this process.
- Step 5:
Trust NGO registration certificate is granted. Once your Trust NGO Registration process got completed, you will receive the registered Trust Deed through courier.
Income Tax Formalities
After completing a valid trust registration, the very next step is to follow the 12A and 80G registration which make you eligible to avail the benefit of tax exemption. To file an application for the registration, Form 10A is used.
The total payment fee of the trust or establishment without providing impact to the provisions of Section 11 and 12 exceeds 50,000/ – every year, the report and statement or records of the trust or foundation for that respective year must be examined by a well qualified chartered accountant or some other qualified bookkeeper selected as an evaluator of companies. The report and the records of the audit should be filled in Form No. 10B as per Income-charge Rules, 1962 and said review records and report must be equipped along with the return of income.
Must know things before going for Trust Registration
In India, Private Trusts are determined and governed by Indian Trusts Act, 1882, whereas public trust controls all its operations and functions by themselves exclude in the state of Maharashtra as Bombay Public Trusts Act, 1950 regulates and governs the functioning and operation of public trusts.
Number of Trustees
There is no definite maximum limit for the number of trustees but at least two trustees are mandatory to file the trust foundation registration. The trust deed should mention all the details and arrangement regarding the administration of the trust along with the strategy and method or procedure which has to be followed for delegating or removing the members
Trust Deed
Trust registration cannot be complete without drafting this important document called a trust deed. It mentions the purpose of the formation of the trust. The document also comprises all the details of its beneficiary and describes the power and rights of trustees. Minimum two witnesses are needed during the trust deed signing process.
Tax Benefit
After completing the registration process, public trusts can avail the exclusive right and benefits offered by the government. Public trusts can also avail the advantage of tax exemption.
Step 5:
Online charitable trust registration certificate is granted. Once your Trust NGO is registration process got completed, you will receive the registered Trust Deed through courier.
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