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 True Auditor 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, True Auditor can complete trust registration online.

What Does A Trust Deed Contain?

The trust deed is the important and most significant document of the trust. It summarizes the goal, its obligations, and how it will operate up until it is shut down. The trust deed includes the following clauses.

• Trust’s full term
• The trust’s registered office
• The trust’s operational area
• Goals for the trust
• Information on the author and the assets
• Information about the trustees Board
• Board membership and the members’ qualifications, terms, and tenure
• Regulating trustee and other trustees’ permission and responsibilities
• Closure, improvement of the trust deed, and the Act’s petition

Why Register A Trust?

According to the Public Trust Act of every state, registering a trust is required if it has a charity purpose or whenever a piece of land is transferred in the trust’s name. For tax insurance under Sections 12A and 80G of the Income Tax Act, only registered trusts are allowed to undertake the above mentioned transaction. Trust registration increases the legitimacy of the same because it involves donations of public funds.