A Trust can register as a private trust or a public charitable trust.
The Indian Trusts Act recognizes private trusts. Private trust can be registered
for managing private assets of an organization like a school, college or institution.
Private trusts are not allowed for tax benefits by the income tax department.
If you are willing to to do some charitable work for public, you can register a
public charitable trust. India does not have a national level law to govern charitable trusts.
A trust is defined as an obligation annexed to the ownership of property arising out of the
benefit of the person. Different trust in different states is governed by the Indian trust act.
For the creation of trust, it is necessary to have at least two trustees. Trust can be created
in any language which clearly defined the intention and no technical words are necessary.
Our trust formation services will help our clients to plan their estate well.
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