Formation of trust
charu kumari
(Querist) 06 March 2012
This query is : Resolved
Pls tell the procedure along with forms performa to start a charitable trust in banglaore
Raj Kumar Makkad
(Expert) 06 March 2012
Trust deed is to be finalized by Founder of the Trust with trustees and then it should be duly executed and thereafter be submitted before the Registrar for its registration along-with the requisite fee and documents.
It shall be better for you to avail the services of a lawyer for this purpose.
R.K Nanda
(Expert) 06 March 2012
Contact a lawyer.
A V Vishal
(Expert) 06 March 2012
a) A trust can be formed as per Section 4 of Indian Trust Act 1982 for a lawful purpose;
b) A trust should have a document written and signed by trustees or a sole trustee;
c) A trust can be formed through a will also;
There is no definite form to create a trust. Objectives of the trustee should be clear and unambiguous;
Trust cannot be formed for the following purposes under Sec.4 of the Act:
a) Unlawful purposes;
b) Against provisions of Indian Trusts Act 1932 rules made there under;
c) If there are provisions for cheating etc. in the trust;
d) If the trust is intended to cause loss or damage to one's property
The following can form a trust under Sec.7 of the Indian Trusts Act 1882:
a) A person capable of making contract can form a trust;
b) Trust can be formed on behalf of minor with permission of Civil Court.
stamp duty to be paid for a trust deed
1. Rs.500/- if only money is contributed by the author of trust or if immovable property is convyed where in the author remains as the sole trustee.
2. Same duty as conveyance if the immovable property is conveyed and the author is not a trustee or a sole trustee
As per Article III of table of fees under Karnataka Registration Rules 1965, fee shall be paid at 1 percent on the total of value shown by the trustee or value of movable or immovable property shown in the trust deed.
Deepak Nair
(Expert) 07 March 2012
Well guided by Mr.Vishal.
I would suggest you to contact a lawyer for professional services.
DEFENSE ADVOCATE.-firmaction@g
(Expert) 07 March 2012
Indian trust act controls all types of trusts , it is a umbrella central act.
For charitable trusts every state has its own act and rules and charity commissioner controls all such public and charitable trusts in that state.
Most of the states insist for registration under societies act also while registering charitable trusts.
Shonee Kapoor
(Expert) 07 March 2012
Vishal has given complete reply.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
