• Charitable trust

Pl advise how to set up a charitable trust. What is the paper work involved ? Is it as simple / straight forward as starting up a company / proprietorship firm ?
Asked 5 months ago in Business Law from Chennai, Tamil Nadu
1) you can contact a local lawyer for drafting trust deed for private charitable trust 

2) trust deed should be registered 

3) it should mention name of persons who would be the trustees

4) the object of trust should be mentioned  . procedure for filling of vacancies and termination of office of trustees should be mentioned 

5) a public charitable institution can be formed either as trust or society or as section 8 company 
Ajay Sethi
Advocate, Mumbai
24841 Answers
1336 Consultations
5.0 on 5.0
A Trust can either be a private trust or a public charitable trust. Private trusts are governed by the Indian Trusts Act (1882) and are used for private purposes, such as running a private estate or institution. Privates trusts are not given any tax benefits by the Government of India. If you want to do some charitable work for public –you can set up a public charitable trust.

The trusts are state subjects and are governed by respective state government rules. 

For formation of trusts many formalities are to be complied with, hence you may take the help of a local advocate for the same by providing him the necessary details.
T Kalaiselvan
Advocate, Vellore
15328 Answers
141 Consultations
5.0 on 5.0
1. A public charitable or religious institution can be formed either as a Trust or as a Society. It generally takes the form of a trust when it is formed primarily by one or more persons. To form a Society at least seven persons are required. Institutions engaged in promotion of art, culture, commerce etc. are often registered as non-profit companies. You can form and register the trust as per the Indian Trusts Act by executing a trust deed. 

2. Under the Income Tax Act, wholly charitable and religious trusts are exempt from tax. A notified approval from the DG Income Tax Exemptions may be obtained under Section 10 (23C), subject to the fulfilment of certain specified conditions.
Ashish Davessar
Advocate, Jaipur
18884 Answers
473 Consultations
5.0 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
Ask a Lawyer

Business Lawyers

T Kalaiselvan
Advocate, Vellore
15328 Answers
141 Consultations
5.0 on 5.0
Ajay Sethi
Advocate, Mumbai
24841 Answers
1336 Consultations
5.0 on 5.0
Ashish Davessar
Advocate, Jaipur
18884 Answers
473 Consultations
5.0 on 5.0
Krishna Kishore Ganguly
Advocate, Kolkata
12733 Answers
263 Consultations
5.0 on 5.0
Devajyoti Barman
Advocate, Kolkata
5902 Answers
63 Consultations
4.9 on 5.0
Nadeem Qureshi
Advocate, New Delhi
3646 Answers
138 Consultations
4.9 on 5.0
Shivendra Pratap Singh
Advocate, Lucknow
2895 Answers
44 Consultations
4.9 on 5.0
Rajgopalan Sripathi
Advocate, Hyderabad
916 Answers
55 Consultations
5.0 on 5.0
Lakshmi Kanth
Advocate, Hyderabad
263 Answers
2 Consultations
4.8 on 5.0
Shashidhar S. Sastry
Advocate, Bangalore
1256 Answers
62 Consultations
5.0 on 5.0