Trust

Nimisha Vora (Querist) 15 June 2014 This query is : Resolved
Dear Team,

Can a Trust which is not registered as charitable trust and does not have 12A or 80G. The trust deed is only stamped on Non judicial Paper in Delhi, wants to lend money to poor and needy for housing at very less interest rate. Can they do it or do they need any permission from any authority?

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T. Kalaiselvan, Advocate (Expert) 17 June 2014
This cannot be treated as a trust, it can be treated as an unregistered NBFC due to the income derived out of the lent amount, better consult a local consultant and proceed.

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