Employee welfare fund

Querist : Anonymous (Querist) 02 November 2011 This query is : Resolved
Dear Expert,

Kindly advice me.

We have employee welfare fund formed from last 4 years.

we hav pan number also.

no Trust deed is prepared yet.
we need to prepare a trust deed for claiming exemption u/s 10

can we prepare a trust deed of current date?

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prabhakar singh (Expert) 02 November 2011
You have now come in an other way .

When there is no deed so far then at what date the deed can be made of course of current date.

Querist : Anonymous (Querist) 02 November 2011
Sir,

We are preparing accounts of the fund

fund was formed 4 years back......

but no trust deed was prepared......

now income is crossing exemption limit.

thats why we are looking for exemption u/s 10(23aaa)

for which needs trust deed of fund

Querist : Anonymous (Querist) 02 November 2011
can we made it on current date mentioning formation of the trust four years back?

soumitra basu (Expert) 04 November 2011
You can make a Trust Deed currently specifying the retrospective effect. But you shall not get the exemption from respective date but only from the date of the preset deed.

Querist : Anonymous (Querist) 04 November 2011
no problem sir..........
we need exemption for future period only.....
i just need to confirm from experts whether such a deed is legal or not...

Bikram Sarkar (Expert) 17 February 2013
Dear Xperts
Can a society be formed and registered in this respect instead of creating trust?

soumitra basu (Expert) 22 February 2013
There is lot of difference between society and trust. Society is governed by the Society Registration Act and Trust is govern by the Indian Trust Act.

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