Trust Registration (NGO)
For Non Profit organizations running for social welfare
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What is it? | Why Needed? | Documents Required | Service Package | FAQs
Trust Registration (NGO)
Trust is a public charitable body built as a not for profit organization with the purpose of social welfare.
Trust is a declaration of ownership of a property held by the owner in the name of someone else OR the transfer of property by the owner to another. Particularly, for the benefit of a third person along with or without himself.
There are two three entities in a trust: Settlor- The person creating the Trust; Trustee- the person to whom the property is transferred on trust and Beneficiary- the person for whose benefit the property is transferred. In India, majorly Trusts are registered in a form of a public charitable trust (not-for-profit entity) that can be established for any of the purposes like social service, education, healthcare, provision of facilities for recreation, and any other object of general public welfare.
Legal Brother’s has a team of experts in Trust Registration (NGO) for pan India locations. You may contact us to get your Trust Registration (NGO) in Delhi, Mumbai, Bangalore, Kolkata, Kanpur, Bareilly, Lucknow, Kanpur, Ghaziabad, Ludhiana, Faridabad, Meerut, Varanasi, Srinagar, Amritsar, Allahabad, Chandigarh, Bareilly, Moradabad, Gurgaon, Aligarh, Jalandhar or any other cities in India.
Trust is registered depending upon the movability and immovability of the concerned property:
- If Property is movable – a Trust shall be created by the execution of a duly registered trust deed.
- If Property is immovable – a Trust shall be created orally or in written by the owner himself declaring that he would hold the property, not as owner, but as a Trustee for the benefit of some other person(s).
Why Needed: Reasons & Benefits
The most interesting feature of a trust is that it’s an important tax planning tool.
The income and capital gains generated by the assets transferred to the trusts are taxed according to the rule of the Trustee.
Protecting the Weak
A trust provides a vehicle by which a person can provide help to those who are unable to manage their own affairs.
A discretionary trust can provide a system of management of property that is capable of adapting as per the circumstances’ demands.
Trust protects assets because an asset transferred to a trust can no longer be seized if a Settlor gets into financial difficulties
Trust assets do remain confidential.
Preserving Family Assets
Preserving the family assets, or increasing them, is often a motive for setting up a trust.
- If the trust is created, or the institution is established, under an instrument, than in such case, self-certified copy of the instrument creating the trust or establishment of the institution is to be submitted;
- If the trust is created, or the institution is established, otherwise than under an instrument, than in such case, self-certified copy of the documents evidencing the creation of the trust or establishment of the institution is to be submitted;
- Self-certified copy of registration with the Registrar of Companies or Registrar of Firms and Societies or Registrar of Public Trusts, as the case may be;
- Self-certified copy of the documents evidencing adoption or modification of the objects, if any;
- Where the trust or institution has been in existence during any year or years prior to the financial year in which the application for registration is made, than in such case self-certified copies of the annual accounts of the trust or institution relating to such prior year or years is to be submitted;
- A note on the activities of the trust or institution needs to be submitted;
- Self-certified copy of existing order granting registration under section 12A or section 12AA; and
- Self-certified copy of order of rejection of application for grant of registration under section 12A or section 12AA, if any.
Frequently Asked Question
What are the types of NGO?
There are 2 types of non-profit NGO- Trust and Society.