Following are the Documents & Information required for Formation of Society / Trust
Sr. No. |
Particulars |
Particulars |
A |
Preparation of the Trust Deed |
Trust deed is non mandatory, but is desired as it is enforceable by law. |
1 |
Parties to the trust |
3 parties required for the formation i.e., settler, trustee and beneficiary |
1A |
Applicant /Settler of the trust |
Settler is the person who declares confidence in the Trust. [Name & Address of the Settler] |
1B |
Details of trustees /Members |
Trustee should not be a minor & be of sound mind. [Full Name , Address , Occupation & Age. Designations of the Trustees / Members ] |
1C |
Beneficiary of the Trust |
Person who is going to be benefitted by the formation of trust. Usually Settler himself is the Beneficiary or it is public at large . |
2 |
Objects of the Trust/Society |
Detailed object of the Trust is to be mentioned. Trust can be formed for charitable purposes only |
3 |
Subject matter |
The subject matter of the trust is the property in respect of which the trust has been created. For creating a valid trust, the subject matter should be defined with certainty and such property should be capable of disposition. |
B |
Registration of the trust by Trust Deed |
Registration is not compulsory but is needed to get the trust registered under the Income Tax Act for availing the exemptions and more over a deed is a prima facie evidence of the existence of a trust |
1 |
Name of the Trust |
Give atleast 3 options in the order of preference |
2 |
Address for correspondence & Evidence |
Recent Telephone Bill/ Electricity Bille of the Trust Location. |
3 |
Tenure of Trustees |
Max 5 Years & Min 1 year . |
4 |
Minimum and Maximum Number of Trustees |
Minimum : 2 Maximum : NO LIMIT |
5 |
Who should operate bank account |
Proposed Member’s specimen signature. |
6 |
Colour Photograph of applicant & identity proof |
Photograph’s of the Settler , Trustees |
7 |
Declarations to be Made |
Regarding the rights & duties of the Trustees & Beneficiary . |
8 |
Specific clauses related to Trust |
The procedure for appointment, removal or replacement of a trustee. The mode and method of determination of the trust. A draft Trust Deed shall be provided by us |