Clarification of creation of existing trust.
(Querist) 03 June 2023
This query is : Resolved
My great grand father has created a oral temple trust during 1852 with houses for priest and shops for the income to the temple. Now the Banks are asking for KYC like trust deed and PAN. Is it possible to register the same Trust act in Karnataka and what is the stamp duty for the existing properties of the oral trust.
(Expert) 03 June 2023
I opine now you can't register it. Who are the trustees? Now who is looking after the Trust?
T. Kalaiselvan, Advocate
(Expert) 04 June 2023
If you are looking to set up a religious charitable trust in India, then you will need to first obtain a registration certificate from the tax authorities. Once you have obtained this certificate, you can register your trust with the relevant state or central government agency.