Trust registration in Asansol
Trust registration in Asansol is a process of legalizing the trust deed (a legal contract between the settlor and Trustee) from the registrar of the Asansol jurisdiction of . The Trust serves as a legal medium liable for the lawful distribution of the settlor’s assets among the concerned beneficiaries. The Trust comes to an effect as soon as the registrar provides its authorization to the trust deed.
Features of Trust Registration in Asansol :
Biggest features of Trust Registration is that, those who want to involve family members as well in Trust can apply for Trust Registration Asansol .
- To enhance cultural, academic and social condition of the people, work for democracy, good governance peace, justice and cooperation.
- Encourage the people to develop a much better society.
- Work for rehabilitation of beggars in India.
Benefits of Trust Registration in Asansol:
- Legal Recognition : By registering a trust in Asansol , the trust gains legal recognition as a separate legal entity. It becomes a distinct organisation with its own legal rights and obligations. This enhances its credibility and authenticity.
- Trustee Protection : Registration provides protection to the trustees by limiting their personal liability. As a registered entity, the trust is responsible for its debts and obligations. It minimises the personal liability of individual trustees.
- Tax Exemptions : Registered trusts in Asansol can avail themselves of various tax benefits and exemptions. The tax exemptions are provided under Section 12A and 80G of the Income Tax Act, 1961. These exemptions can attract donors and help in fundraising activities.
- Perpetual Existence : A registered trust enjoys perpetual existence. It means that it can continue its activities even in the event of the death or resignation of its trustees. The trust’s activities and objectives can be carried forward seamlessly. It ensures the continuity of its social initiatives.
Following clauses in the Trust Deed required for Trust Registration in Asansol :
- Trust Registered Office
- Operation Area of the trust
- Trust Objectives
- Author Details of the Trust
- Corpus/Assets of the Trust
- Board of Trustees Details
- Quorum of the Board with their qualification, terms and tenure
- Powers and functions of the Managing Trustee and other Trustees
- Closure and amendment of the trust deed and the applicability of the Act
Fundamental Documentation Required for Trust Registration in Asansol :
Following are key documents that one needs to arrange for trust registration Asansol :
- Proof related to Identity for Trustor & Trustee such as Aadhaar Card, Voter ID, Passport, DL
- Trust deed’s objective
- Detail about the Trustee and settlor such as Self-attested copy Id & Address Proof and occupation
- Trust Deed on Proper Stamp Value
- Trustee and settlor Photos
- Trustee and settlor
- PAN details
- Trust deed must reflect the following information:
- Number of trustees
- Trust registered address
- Proposed name of trust
- Proposed Rules that will govern the trust
- Presence of settlor as well as two witnesses at the time of registration of Trust
Step wise Registration Process for NGO Trust registration in Asansol :
- Step 1: Fill the Trust Registration Form, the applicant has to fill all the needed details in the simple application form.
- Step 2: Assemble the Prerequisites details, here you have to collect all the required documents as per the specifications. And it takes around 2 working days
- Step 3: Compile a trust deed, as per the documents provided by you for the registration process, a Trust deed will be compiled. This process will take around 4 to 5 working days
- Step 4: Trust Deed Registration process, the trust deed so compiled will be presented to the concerned local registrar for registration. It takes around 12-13 working days to complete this process.
- Step 5: Trust NGO registration Deed is granted. Once your Trust NGO Registration process got completed, you will receive the registered Trust Deed through courier.
