Trust Registration

Thirdeyed: Your Trusted Partner in Trust Registration

Overview:
A trust is a noble business structure designed to serve various charitable and philanthropic purposes. Trust registration, governed by the Trusts Act of 1882, is a crucial legal step that ensures the trust operates within the legal framework. At Thirdeyed, our dedicated team is ready to guide you through the trust registration process, making it seamless and efficient.

Contact us today to discuss your trust registration needs and benefit from our expertise in establishing legally compliant and effective trusts.

Trust & Trust Registration – An Overview:
Trusts are established with the goal of providing non-commercial services for the betterment of society. A fiduciary relationship between the trustor, trustee, and beneficiary defines a trust. Trust registration under the Indian Trusts Act of 1882 ensures legal recognition and compliance.

Parties Involved in Trust Registration:

1. Trustor: Establishes the trust and transfers assets.
2. Trustee: Manages and administers trust assets.
3. Beneficiary: Receives benefits as per trust terms.

Types of Trusts:

1. Private Limited Trusts
2. Public Limited Trusts
3. Public Cum-Private Trust

Regulatory Authority and Laws:

• Registrar of Trusts: Primary regulatory authority.
• Laws:
• Trusts Act of 1882
• Income Tax Act of 1961
• Societies Registration Act of 1860

Reasons for Trust Registration:

1. Regulation: Ensures compliance with laws.
2. Charitable Activities: Promotes non-commercial activities.
3. Tax Benefits: Access to tax exemptions under sections 12A and 80G.
4. Public Interest: Ensures public trusts act in the public’s best interests.
5. License: Provides a license to conduct trust-related businesses.

Benefits of Trust Registration:

1. Charitable Involvement: Benefits individuals, beneficiaries, and charities.
2. Tax Exemptions: Access to tax benefits for donors.
3. Financial Support: Provides financial assistance to the underprivileged.
4. Legal Protection: Ensures legal standing and protection.
5. Family Wealth Protection: Manages and preserves family wealth.
6. Probate Avoidance: Facilitates asset transfer without probate.
7. Immigration/Emigration Benefits: Offers advantages during relocation.

Requirements for Trust Registration:

1. Trust Deed
2. Photographs
3. PAN cards
4. Address and identity proofs
5. Authentication (if applicable)
6. NOC for premises (if applicable)
7. Utility bill as address proof
8. Trust registered office address proof
9. 12A and 80G Certificates (if applicable)

Trust Deed Contents:

1. Period of operation
2. Registered office address
3. Geographic area of activities
4. Objectives of the trust
5. Trustor information
6. Trustee details
7. Roles and responsibilities
8. Amendment and closure provisions

Trust Registration Procedure:

1. Name of the Trust: Choose a compliant name.
2. Settlers: Determine trustor and trustees.
3. Memorandum of Association: Outline trust objectives.
4. Trust Deed Drafting: Create a legally binding document.
5. Submit to Registrar: Submit documents to the registrar.
6. Certificate Issuance: Obtain the trust registration certificate.
7. Bank Account Opening: Open a bank account in the trust’s name.

Winding Up a Trust:

• Occurs when assets are distributed legally.
• Involves addressing tax obligations.
• Compliance with relevant authorities.

How Thirdeyed Can Help:

• Comprehensive assistance in Trust Registration.
• Expert guidance and document preparation.
• Timely updates and ongoing post-registration support.
• Cost-effective solutions for hassle-free registration.

Contact Thirdeyed today to initiate a successful trust registration journey and ensure your trust operates efficiently and complies with legal requirements.