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A trust is an organisation wherein a person holds property as its nominal owner for the good of a beneficiary.
The word trust means a transfer of property such as cash, shares or assets from the company owners to another person.
Trust cannot be done away with or cancelled without the approval of the court.
There are no laws or guidelines that define the functioning of the trust in India. However, states such as Maharashtra and Tamil nadu have their conventions and protocols when it comes to implementing the public trust act.
A trust is an organisation wherein a person holds property as its nominal owner for the good of a beneficiary.
The word trust means a transfer of property such as cash, shares or assets from the company owners to another person.
Trust cannot be done away with or cancelled without the approval of the court.
There are no laws or guidelines that define the functioning of the trust in India.
Trust registration allows companies to indulge in charitable activities in case of a transfer of immovable property.
It makes use of public money in the form of donations as it helps businesses gain the trust of the customers by being more proactive and reliable.
A trust has a legal identity and does not jeopardise any company’s reputation.
As per the Section 12A and 80G of the Income tax act, a registered trust is exempted from paying taxes and no miscellaneous expenses are to be made by them.
The company officials can answer the questions by filling in the questionnaire, provide necessary details/ documents and facilitate online payment.
Besides, there is a grievance cell wherein the customers can get solutions to their queries and understand the ways to complete the formalities.
By consulting an assigned relationship manager, the companies can ask for the digital signatures. It is important to write an application about the name reservation, submit documents about the MOA and AOA and wait for the certificate of incorporation to be issued by the concerned authorities.
It takes about 15-18 days for the process to complete successfully. During this period, the company owners can ask for a free assessment call to know more about the trust registration process and ensure that the business is compliant and safe.
Yes, a trust can have a foreigner who might supervise the company and establish law and order in it.
The company officials can come up with different names under the RUN category. These must meet the parameters of efficient naming protocols.
No, the online registration process does not require the presence of the shareholders or promoters.
There is no fixed amount and it varies as per the will of the shareholders and their financial position.
Yes, an NRI or Foreign National can be a Director after obtaining Director Identification Number. However, at least one Director on the Board of Directors must be an Indian citizen and a resident.
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