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Kiran (Self)     31 October 2012

Bringing a non operational trust to active state

Hi All,

My parents with few other people had formed a Trust in 1997. The Trust is registered for Social Service activities. The trust has also obtained 80G exemption.

There was not much of activities as part of Trust as both my parents were working at that time and few other reasons. Till now the IT returns have not been filed in Trust's name even for a single year.

My mother is the General Secretary of the Trust.

Below are some of our doubts

1) What is the procedure to change the Trustee members including the President as few of them are expired or have become old?

2) Can land be bought in the name of the Trust? Do all the Trustees have to sign if land is being purchased in the name of the Trust?

3) Is it better to form a new Trust altogether rather than trying to bring this existing Trust to operation?

 

Thanks and Regards

Kiran

 



Learning

 1 Replies

Sanjeev (Lawyer)     31 October 2012

where is the trust registered---non compliance with IT rules would have resulted in cancellation of 80G exemption check if the exemption has been revoked this can be easily found at the IT office where the 80G exemption was granted.

 

The members can be changed by passing a resolution to this regard.


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