The Bombay Public Trusts Act 1950

BOMBAY CHERITABEL TRUST

Application to be made by the trustee to the Dy. /Asst. Charity Commissioner (Asst.CC) of the region or sub-region within the limits of which the trustee has an office for the administration of the trust or the trust property or substantial portion of the trust property is situated, as the case may be.

Copy of trust deed or copy of the certificate of registration number issued by Charity Commissioner. c) Any other document originating from any Central Government or State Government Department establishing identity and address of such person. After Obtaining PAN Card from Income Tax Department.

Movable property: A trust in relation to movable property can be declared as in the case of immovable property or by transferring the ownership of the property to the trustee. Hence, registration is not mandatory.

TRUST REGISTRION

In simple words it is a transfer of property by the owner to another for the benefit of a third person along with or without himself or a declaration by the owner, to hold the property not for himself and another.” In India, majority of the Trusts are registered as public charitable trust a form of not-for-profit.

Go to the local registrar and submit a trust deed along with a photocopy for registration. The photocopy of the deed must also contain the signature of the settler on all pages. At the time of registration, the Settler and two witnesses must be present in person along with their identity proof in the original.

Trusts that hold property will, like other trusts, only need to be registered if the trustees incur a liability to tax. Thus, if the property is occupied by a beneficiary – and is not income-producing – no requirement for registration will exist unless a taxable event occurs for IHT, CGT or SDLT purposes.

Creating a property protection trust (sometimes called an asset protection trust or a property preservation trust) through your will allows someone to benefit from your estate after you have died as if he or she owned the assets, without actually inheriting it.