A trust can be a public or private but works by the rules and guidelines avoiding every personal gain via monetary or non-monetary involvements. The only way a trust can work is they use all the funds and trust just for the societal or social welfare. A Trust works as a Non-profit organization also known as charitable trust and it can register as a private or public trust.
A trust or an NGO can acquire 12A certificate from Income Tax Department. Thus, by acquiring 12A certificate a trust is exempted to pay income tax for the entire lifetime on its surplus income. Thus, to avail deduction, 80G certification is mandatory to.
There are different ways a non-profit organisation can register:
- Private Limited Company under section 8 of the Companies Act
All this companies has many common points such as working at large level for societies welfare or for charity which includes societal welfare where the contribute for education, Medical help, or undertaking activities to promote and aware people about public welfare.
WHAT IS TRUST?
A trust has 3 parties involved as per the Indian Trust Act, 1882, a trustor, a trustee and a beneficiary where a trustor is the one who owns the trust and transfers the property to someone else and that someone else is the trustee which benefits the third person who is known as beneficiary. A proclamation is decreed along with the transfer that the property should be kept for the beneficiaries of the Trust.
A Trust is categorized in 2 ways:
- Public trusts are the one who works for the benefits of public in large number and can be divided in two public trusts: Public Charitable Trust and Public Religious Trust.
- A Private trust is who works for families or individuals.
Hey!! Hold on, here are some other service details from our menu. You can sneak into them; it might be helpful for you!
|Company Registration||MSME Registration|
|NGO Registration||GST Registration|
|Limited Liability Partnership Registration||One Person Company Registration|
- Trust Deed
- Copy of Aadhaar card, passport, voter ID, driving license or any such photo ID. (of settler)
- Copy of Aadhaar card, passport, voter ID, driving license or any such photo ID (of each trustee)
- PAN card
- Proof of the registered office address of the Trust (electricity/water bill or registration certificate)
- No Objection letter signed by the landowner
Smartbizguru also helps in posting compliance of the Company like appointing a Auditor, Preparing Finance of the Company, Filing of GST Returns and Other Returns to Government Authority, Registrar of Company (ROC) Compliances, and Consultation on Digital Market solutions.
You’re just one step away from enjoying all of these services from the comfort of your home!
Ping us soon!