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TRUST REGISTRATION
ADVANTAGES & BENEFITS
- Many privileges and exemptions are available to section 8 company under Company Law
- Non-application of Companies Auditor’s Report Order (CARO)
- Exemption from requirement of Minimum Paid-up capital
- Registered partnership firm can be a member in its own capacity
- Exemption of Stamp duty for registration
- Tax deductions to the donors of the Company u/s. 80G of the Income Tax
DOCUMENTS REQUIRED
- A completely drafted trust deed
- No objection certificate (Rental Agreement or ownership document)
- ID proof of the Founder of the Trust
- Self-attested copy of identity proof of each trustee (Aadhar Card, Passport, voter ID, driving license)
- Pan Card
- Proof of registered office address of the trust (electricity/water bill)
FAQs
The Trustees do not have the right to sell the property, however, the trust properties can be sold after obtaining prior permission from the appropriate civil court.
Based on the cause and objectives, NGOs can be registered online as Trust or Section 8 companies.
The trust is usually irrevocable in nature. For reasons like disqualification of trustees, absence of trustees, mismanagement of the trust, the trust can be merged with a trust having similar objective with the permission of the court.
There is no specific certificate for a trust registration. On the other hand, getting the trust deed registered with the appropriate authorities would suffice.