Upgrad LLM

urgent query please answer

Articled Assistant

 

Sir,

We are deciding to start a Charitable trust . Our planning is different from others (as we think)

Plannings :

1) We would collect money for different charitable purposes and utilize money for that

also

2) We would be starting clinics providing services in discounted rates:

    For that we would collect  Investment from the Public to start such clinic and we would be distributing half of its profits to the investors ( out of which a certain % will keep as a  reserve amount for future activities)

The other half of the Profits would divide into two equal portions ----

one   portion will be utilized for Charitable Purpose and the other portion would be utilized to pay to the persons involved in managing the funds of the Trust

My Questions:

1) Whether the above planning be implemented in India or in other words is it legally enforceable?

2) Which Act in India is applicable to it or under which act the idea to be registered ?

3) What is the Tax implication in india?

4) Does any other Trust in India Operate in such a way explained above,Please name them?

5) What are the steps to operate such Trust-how to begin?

Can you please provide documents relating to such Trust

Please give a detailed Explanations

Thanking you experts

Arif


 
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