Online Registration of Trust in India Registration
Start Your NGO As Trust Registration
You can create a trust by executing a trust deed. There are two types of trusts: public and private. A public trust benefits the general public and is created for charitable purposes, while a private trust benefits a particular group of individuals, known as beneficiaries.
In the first step to register a trust, you need to draft a trust deed. The next step is to seek an appointment with the sub-registrar office having jurisdiction based on the registered office of the trust, and pay government registration fees. On the appointed date, you present the trust deed before the sub-registrar where all trustees need to be present along with two witnesses. Then the registration process takes place by the office of sub-registrar and after one week time your registered deed can be collected. After this logical step, you get PAN and TAN Number allotted for your trust and open a bank account for your trust.
Documents required for Registration of trust in India.
- Request letter for registration of trust in the name of registrar.
- Copy of Trust deed duly signed and dated on stamp paper of proper value.
- Self-attested copy of PAN and Aadhar card in the name author of trust.
- Passport size colour photo of trustee.
- Phone No and email id of trustee and author.
- Copy of business address proof with NOC for use of business premises for trust registration.
- Rent agreement if business address is on rent.
Benefits of NGO registration.
- Local governments donate land to trusts.
- Trusts registered under the Trust Act can use the government’s Registry of Personal Property as a means of identification.
- Tax benefit under Indian Income tax law.
- Benefit under section 8G of income tax law.
- A registered society gets a separate legal status, and every member is responsible for the actions they take.
Procedure of registration of Trust.
Step 1 Preparation of covering letter and drafting of object of main object.
Step 2 Drafting and vetting of trust deed.
Step 3 Notarization of trust deed via public notary.
Step 4 Online appointment for registration of trust with registrar of trust.
Step 5 Filing of application for allotment of PAN and TAN.
Registering a trust is a five-step process. First, you have to draft a trust deed on stamp paper; the cost of each stamp varies from state to state. After that, you need an appointment with your sub-registrar’s office to pay the registration fee for your trust. Next, all of your trustees should attend this appointment with two witnesses in tow. After that, your sub-registrar will register your trust deed and send it for printing after about a week. Finally, you’ll be able to apply for PAN and TAN numbers for your organization by submitting the bank details of your business account along with the trust deed registration certificate at any nearby branch of the Reserve Bank of India (RBI).