Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Ashwitaa Shetty (.)     04 July 2022

Yoga institute registration as a trust

A yoga teacher wishes to register her yoga classes as a Trust. Is it advisable to get registered as a Trust as per provisions of  Indian Trust Act,1882 or would forming a Section 8  company as per Companies Act, 2013 be a better choice. Please advise ? Also what benefits would a person get on registering as Trust as opposed to not be registered as a Trust?



Learning

 1 Replies

Mahi Manchanda   06 July 2022

Hi,

A trust is a fiduciary relationship in which a trustor gives another party, known as the trustee, the right to hold title to property or assets for the benefit of a third party. Trusts are highly versatile vehicles that can protect assets and direct them into the right hands in the present and in the future, long after the original asset owner's death.

The Companies Act defines a Section 8 company as one whose objectives is to promote fields of arts, commerce, science, research, education, sports, charity, social welfare, religion, environment protection, or other similar objectives. These companies also apply their profits towards the furtherance of their cause and do not pay any dividend to their members. So, it makes the company a non profit organistion.

The yoga teacher should decide based on what she wants out of her business. 

I hope this answers your question.

Have a good day!

 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Recent Topics


View More

Start a New Discussion Unreplied Threads



Popular Discussion


view more »




Post a Suggestion for LCI Team
Post a Legal Query