Trust registration in India – An overview
Trusts are created to focus on the development of sciences, literature and other noble causes like relieving scarcity, consenting education to the needy , and giving medical support. It is mandatory to complete trust registration in order to complete the whole process without any hassles.
Since the trusts are irreversible, they cannot be shifted or cancelled without the court’s permission. Trust registration may seem like a very long process. But with Barrister Babu the Whole registration process can be simplified and completed in just a few steps. With a few benefiting papers, such as a deed of trust and rental agreement, Barrister Babu can complete trust registration.
Steps to Register a Trust
The trust registration can be done online through Barrister Babu by following a few simple steps. The trust’s creator, also known as the ‘Author of the Trust’ or the ‘Settlor of the Trust’ is required to establish in writing the trust’s aims and the process by which its trustees will strive to accomplish the goals. This is the first step in registering the trust. The document that contains all of these specifics is known as a trust deed, often known as a deed of trust.
Following this, a trust deed and an application for the trust’s registration must be presented to the Registrar of Trusts. The adequate legal system for registering the registered department of the trust is commonly where the trust is arranged.
Trust Compliances
Following registration, a trust must take the following actions.
Obtain a PAN card
Follow Accounting and Bookkeeping
File for IT annually
Licences for businesses and establishments
Professional tax registration
If applicable, continue with GST registration
