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Formation of Trust : How to form a trust in India?

A trust is a three-party fiduciary relationship in which the first party, the trustor or settlor, transfers a property upon the second party for the benefit of the third party, the beneficiary.

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Formation of Trust : How to form a trust in India?

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  1. +91-9810065014  Mon - Sat 9.00 - 18.00 Sunday CLOSED  803(A) Galleria DLF Phase 4, Gurgaon, India Home Blog Finance & accounting Formation of Trust : How to form a Trust in India?       formation of trust : how to form a trust in india?  July 16, 2018 Posted by: admin Category: Finance & accounting, Tax Consultation  No Comments Sharing is caring!          

  2. formation of trust A trust is a three-party ?duciary relationship in which the ?rst party, the trustor or settlor, transfers a property upon the second party for the bene?t of the third party, the bene?ciary. A Trust is the obligation or responsibility placed on one in whom con?dence or authority is place; it is a con?dence reposed in a person by conveying to him the legal title to property which he is to hold for the bene?t of others. Therefore, the “Trustee” responsibility includes protection of rightful ownership in the Trust property, the preservation of the Trust property and channelising the income from the Trust property in accordance with the intentions of the creator of the Trust. In this article, we look at the procedure for forming a Charitable Trust in India. The following elements are essential for the formation of a Charitable Trust: 1. An Author or Settlor of the Trust 2. The Trustee 3. The Bene?ciary 4. The Trust Property or the Subject Matter of the Trust

  3. 5. The objects of the Trust Reasons for forming a Charitable Trust Charitable Trusts are formed in India for one or more of the following reasons: 1. Discharge of the Charitable an/or religious sentiments of the Author, in a way that ensures public bene?t. 2. For claiming exemption from Income Tax, as the case may be, in respect of incomes applied to charitable or religious purposes. 3. For the welfare of the members of the family and/or other relatives, who are dependent on the settlor of the Trust 4. For the proper management and preservation of property. 5. For regulating the a?airs of a provident fund, superannuation fund or gratuity fund or any other fund constituted by a person for the welfare of its employees. Sharing is caring!           company law matters company law matters consultancy gst consultant in noida gst consultants in delhi gst consultants in gurgaon gst tax consultants income tax consultant income tax consultant in gurgaon

  4. income tax ?ling consultants legal consultant services nri consultancy services tax consultant in gurgaon leave a reply You must be logged in to post a comment. We are available online also. Our email id is contact@rstaxconsultants.com. Clients can contact us through mail also. We try to reply all the queries as soon as possible. Clients can call us on +91-9810065014. We make sure that our clients get the answer of their queries and doubts. Our sta? will look personally in their matter. If someone wants to meet us personally than they can come to 803(A) Galleria DLF Phase 4, Gurgaon, India.       FREE RESOURCES Public Search of Trade Marks Company Name Availability Important links Free eBooks Copyright © 2016 RSTaxConsultants All rights reserved

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