Trust are being registered under provisions of THE INDIAN TRUSTS ACT, 1882. Trust are created by dedicating some property to a charitable purpose. However there may, some cash amount may also be given by the Trustee or the settler for charitable purpose. The Trusts are the Charitable Trust, Educational Trust, Religious Trust, Public/Private Trust, Social Welfare Trust, Rural Development Trust etc. The person who creates the trust is the settlor. The person who holds the property for other's benefit is the trustee. The person who is benefited by the Trust Trust is the beneficiary. The property that comprises the trust is the trust property. A trust may be created for the financial benefit of the person creating the trust, or for minor children, or a charitable purpose.
REQUIREMENTS FOR TRUST REGISTRATION
Details required for TRUST registration –
Documents required for Trust registration –
Documents to be made for TRUST registration -
TRUST DEED –
This is the main document to be made, executed and to be deposited with the registrar. In the Trust Deed there must be the mention of the Name and Address of the Trust. Along with, the names of the Trustees, the settler with their respective addresses and other details, the valuation of the trust property, the Aims and Objectives of the Trust, the area of operation, ; the funds of the Trust, the powers of Trustees and the settler, expenses and reimbursement of the of the settler nd the trustees, managing the accounts, quorum of the trust for decision making and ratification, disposal & settlement of the issues, and the dissolution of the Trust etc.
In India the Societies are registered & governed by the Rules and Regulations as provided in the Societies Registration Act, 1860. The states have their slight modifications according to their requirements but are normally following the same act, as provided. The Societies / NGOs are made for the Literary, Scientific or Charitable purposes.
Details required for Society/NGO registration -
Documents required for Society/NGO registration –
Documents to be made for registration of Society/NGO-
MEMORANDUM OF ASSOCIATION – SOCIETY/NGO -
It shall contain the name of the society; the objects of the society; working area; the names, addresses and occupation of the members of the governing body. The Aims and Objectives are to be detailed in the paras.
RULES AND REGULATIONS OF THE SOCIETY/NGO–
The Rules and Regulations are must to be mention. On the basis of these, the Society will operate and will function to achieve its Aims and Objectives.
Remember, there will not less than 7 members in the Society/NGO. These members will be designated as the President, Vice President, Treasurer, Secretary, aMember, Personal Relationship officer (PRO) and others (as per your opinion/choice/demand).
In the making of the Memorandum; Rules & Regulations of the Society/NGO, the following heads are to be detailed/described –
Under Section 25(1)(a) & (b) of the Indian Companies Act, 1956, a section-25 company may be created to promote commerce, science,art, religion, charity or for any other useful object/purpose, provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members. The Section-25 company, is to be made on a Memorandum and articles of association. There required a minimum of three trustees but more trustees may also be included and is being controlled trough the Board of Management (Board of directors or managing committee).
The availability of the name being checked and then the application should be made in writing to the regional director of the company law board with required documents.
The documents required are - copies of the memorandum and articles of association; A declaration by an advocate or a chartered accountant; copies of a list of the names, addresses and occupations of the promoters; A statement showing in detail the assets; An estimate of the future annual income and expenditure of the proposed company; A statement giving a brief description of the work; A statement specifying briefly the grounds on which the application is made; A declaration by each of the persons making the application and others.