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A public trust is an entity whose beneficiaries are the members of a society. The public trust performs various charitable acts like offering to fund education, providing the necessities to people in need, and offering healthcare services to society. The services are beneficial to various segments of society. A public trust also has a legal status as it can be registered in a state. Various powers are also bestowed upon a public trust by the Income Tax Act, the Public Trust Act of that state and The Indian Trusts Act of 1882.
Create a trust deed or agreement that mentions the terms of the trust.
Identify the trustee, who will be responsible for managing the trust assets and carrying out the terms of the trust.
Identify the beneficiaries.
File the necessary paperwork with the appropriate government agency.
Pay the registration fees.
Tax Exemptions: By opting for trust registration in maharashtra, you can enjoy tax exemption under the Income Tax Act 1961. The trust will no longer have to pay taxes on income generated from its activities. This can help you to save a significant amount of money.
Helping Individuals:Trusts offer help to individuals who are in need. By registering a trust, you will be providing a legal structure to support you. This can help you to benefit different sections of society. A trust can also engage in different kinds of charitable causes.
Simple Integration: A registered trust can be integrated into different initiatives and government schemes. This can help the trust in receiving government subsidies and grants. The registration can also help to increase the credibility of the trust in multiple different ways.
Here are the major reasons why people prefer Trust:
Here’s everything you need to know:
A minimum of two trustees.
A trust deed.
A properly drafted trust deed on Proper Stamp Value
Registered office proof - (Rental Agreement or ownership document)
ID proof of the Founder of the Trust
NOC from the owner of the premises
Two witnesses
Step 1: Select a unique name for your trust
Step 2: Form a Trust Deed
Step 3: Apply for Registration.
Step 4: Allot your trust PAN & TAN Number for TDS Purposes.
Seal it in with a Trust Deed
Bizpole is one of the most reliable destinations for trust registration services. The team of experts at Bizpole is highly experienced in what they do, and they will help you to register your trust in the most seamless and hassle-free manner. We are well aware of the latest rules and regulations of the country concerning trust registration, and we will take care of the entire process on your behalf. We will also offer you cost-effective solutions tailored to your exact needs. This will further help you in optimising your expenses.
The cost of registering a trust in maharashtra can vary depending on the state in which the trust is being registered and the legal fees involved.
A trust can be run without registration, but there are certain limitations.
Once registered, a trust continues to be valid until it is dissolved.
Yes, a single person can form a trust, but there must be at least two trustees for the trust to be valid.
Anyone who wishes to form a trust and avail of its benefits, such as tax exemptions and protection of assets, should consider registering a trust.
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