Trustee and private trust

hetalsangoi (Querist) 02 November 2012 This query is : Resolved
i want to be a trustee of the small education trust ,then what is the responsibility of the trustee of the private trust ? what are the obligation? i which case he is more responsible? what is the main responsibility he has to deal? please give your suggestion from the point of law aspect and income tax view?

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Sanjeev (Expert) 02 November 2012
A Trust Income is not exempt unless exemption is granted by the IT department when 80G exemption is applied for fulfilling all the formalities.

The trustees powers depends on the trust deed as it is the document that defines the purpose of formation of the trust as well as the way the trustees are appointed and the roles and powers of the trustees.

what else you would like to know?

hetalsangoi (Querist) 24 November 2012
when the settler donate the property i e. L & B for the formation of the trust deed and if any reason if trust is winding out , this smae property is transferred to settlor or his legal heair or its assignees.

is these clause represent that it is public trust?

to know as the public religious charitable trust or public religious trust ,what is the diff between? how to identify its status?

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