Tom 01 April 2019

Convert all my property into a public trust

I am a Farmer and have a lot of agricultral land. I want to start a new charitable trust by converting all my Land, Bank balance, House, for the benefit of the public. I live in Gujarat

So can my new charitable trust be able to legally accept agricultaral land?

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6 Replies

Bhat Sami 01 April 2019

yes u can and u have exemptions from income tax available no tax

Nikita Parekh 01 April 2019

contact good chartered accountant

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 01 April 2019

Public charitable trusts can be established for a number of purposes, including the relief of poverty, education, medical relief, provision of facilities for recreation, and any other object of general public utility. Indian public trusts are generally irrevocable. No national law (except the broad principles of the India Trusts Act 1882, which governs private trusts) governs public charitable trusts in India, although many states (particularly Maharashtra, Gujarat, Rajasthan, and Madhya Pradesh) have Public Trusts Acts.

Dr J C Vashista (Advocate) 02 April 2019

Yes it can be registered.

Contact a local prudent lawyer to complete all mandatory requirements and formalities.

Shashi Dhara 02 April 2019

Whether the property is ancestral or self acquired.which religion does u belongs.if it is jointlly owned or sole owner. If there is other co owners or every one accepti it or not.before starting charitable trust clear everyobstruction about owner ship and then after proceed.