The intention should be expressed in unequivocal language and with a reasonable degree of certainty.
formation of trust in through ngo consultancy
Though and particular or technical words are necessary yet the wore used must be capable of definite meaning.
The objects of the trust the procedure for appointment removal or replacement a trustee their rights duties and powers etc.
The rights and duties of the beneficiaries the mode and method of determination of the trust. Why Go for Registration of Trust For a public trust whether in relation to movable property or an immovable property the registration is optional but always desirable. A registered Trust Deed has the following advantages A registered Trust Deed becomes an official document which carries support and force of law. A registered Trust Deed effectuates transmutation possession. A conveyance of trust property to the trustee under registered deed is generally not open to challenge. However in case of a charitable or religious trust in relation to an immovable property for claiming exemption of the Income Tax Act.
NGO Registration is of two types. One is Trust Registration and the other is Society Registration.
It is legally not necessary to have a written trust the charitable trust/religious trusts, societies and institutions. The practical point of view, however, it is always advisable for trusts to have a properly registered trust deed. When the deed is reduced into writing with the Registrar it facilitates options under section 80G of the Income-Tax Act for the donors. be noted that this is an essential requirement for the purposes section 80G of the Income-tax. Under the provisions of sections of the Income-Tax Act the income of the property, a religious trust is exempted from income tax subject to always fulfillment of certain conditions. Such trust institutions are to exemption under the Income-tax Act when they are or established for charitable purposes as defined under which seen one of the Income-tax Act 1961.
Organizations can get them registered as a Charitable Trust with the Registrar. Minimum of three trustees are required to form the trust with some amount as the initial capital. It is advisable to have an odd number of trustees.
The trust needs to be registered only once and all the changes are internal and will be decided by the board of trustees. These changes need not be notified to the Registrar – Trust.
The formation of trust can be notified to Registrar – Societies, Chits, and Funds. It is not mandatory.
The formation of trust registration
It should be ensured that the trust is not defunct at any moment of time. As soon as the trustee resigns new trustee should be appointed. In case the trust gets defunct the government takes it over and the concerned government authority (e.g. DM) becomes the trustee.
