Trust Registration in Coimbatore | Get registration in 10 days

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Trust Registration in Coimbatore
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A trust is usually called as charitable trust
which provides social benefit for some of the
people. Charity begins at home is famous quote
for encouraging the people to have charity mind.
The law stands by the people who want to run the
trust.
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The Act was called as Indian Trust Act 1882.
Trust Registration in Coimbatore says that it
came into force in the year1882 local extent. The
trust is almost created for obtaining the tax
benefits, to have control over the properties. It
is created by the settler. Any non-government
organisation can be formed as Trust. It can be
registered under Section 8 of the Companies Act.
The Section 2 (15) of the Income tax defines the
charitable purpose.
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The trust deed is an important aspect which
brings the trust into existence. The deed
contains the rules and regulations of the trust.
Trust Registration in Coimbatore says that the
deed contains various clauses. The clauses are
name clause, settler and trustee clause,
registered office clause, object clause and the
beneficiaries and also General Body member
clause. The trust is not a separate legal entity.
The trust deed should be drafted in which the
parties of the deed shall be settlor, trustee and
the beneficiary.
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Registration Process

• Primary thing is you have to be careful in
  selecting the Name of the trust. The name
  selection should not be lean on the beliefs of
  the government. The government maintains the list
  of names which are prohibited. This is defined
  under the Emblems and Names Act 1950.
  Interestingly if you register a name which is
  already registered you will not be sued.
• Secondly you should determine the settlor who is
  about to form the trust. The author is no need to
  be a qualified person, can be a male or female.
• Then comes the preparation of the memorandum of
  association.

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• The trust deed should be drafted in which the
  parties of the deed shall be settlor, trustee and
  the beneficiary. They should have the PAN, TAN
  and valid identity and address proofs.

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Private vs Public Trust
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Private vs Public Trust

• Private Trust

• Public Trust

• A private trust can be started by any individual.
  
• A person with sound mind, major can form the
  trust. Even on behalf of a minor the trust can be
  started.
• In a private trust the trustee who is holding the
  property.
• private trust cannot enjoy the tax benefits and
  privileges announced by the government.

• A public trust is established to help the needy
  in the society. So that the property should exist
  and the trust should be intended to serve the
  society.
• Its registration needs the details of the
  trustees and the beneficiaries.
• public trust can enjoy all the privileges
  declared by the government and the tax benefits
  once registered

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Due to COVID-19 pandemic outbreak, the new
entities are expected to get the registration by
October 1, 2020. It is the relaxation announced
by the government during these hard times. The
income is exempt under the section 10 (23 C)
section 11 or the purpose of 80G of income tax
making the registration valid for five years.
This made effective on June 1 2020. It is now
pushed back to October1, 2020
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The CBDT (Central Board of Direct taxes), said
that it has the concern of the new procedure.
Trust Registration in Coimbatore says that also
it says that power which is being given to the
Commissioner of Income tax with effective in June
1 2020 to cancel the trust registration, if the
activities of the trust is not in accordance to
the objective of the trust this cancellation can
be done.
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For further details contactAddress 1A First
Floor, Post Office Road, Krishnaswamy Nagar,
Ramanathapuram, Coimbatore-641045Contact
number 91 7810001000trustregistrationcoimbator
e.in