Trust Deed

Points To Be Noted Before Drafting A Trust Deed

Corporate Law - A Public Charitable Trust Learn the must-know details of drafting a trust deed as per Indian Governments Rules. Points to be noted before creating a trust!...

Trust Deed Format for Charitable Medical Teaching Institute

Corporate Law - Trust Deed Format For Charitable Medical Teaching Institute–Section 2(15) of Income Tax Act. 1961 TRUST DEED This Deed of Public Charitable Trust executed on this…………… day of……………………….between Shri……………………… son of Shri…………………… Resident of ………………………..herei...

Trust: Creation, Trust Deed & Registration

Corporate Law - As per section 3 of Indian Trust Act 1882: “A Trust is an obligation annexed to the ownership of the property, and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the advantage of another, or of another and therefore the owner.” CREATION OF TRUST […]...

Draft of Public Charitable Trust Deed

Corporate Law - Draft of Public Charitable Trust Deed THIS INDENTURE made at _____ this ——- day of ———– 1990 BETWEEN __________ called ‘the Settlor’ (which expression shall unless it be repugnant to the context or meaning thereof be deemed to include his heirs, executors or administrator) of the One Part AN...

General Principles of Drafting with Focus on Contents of Deed

Corporate Law - Legal drafting is the most important instrument of legal communication. A professional need to have a very good hand at drafting as the skill to draft well is the skill to think and communicate well. Drafting is the collection and placing of all aspects of the matter in a logical manner and a lucid style […]...

Format of Decleration to be taken from Donee by Trusts for donation received towards Corpus Fund

Corporate Law - As we all know anonymous donations received by a trust are taxable, so every charitable trust has to keep the records of donation received which includes keeping the name, address and PAN of donee. If donations are received towards corpus than trust should obtain from donee an instruction mentioning his intention to treat the donation giv...

Standard format of Lease Deed, Agreements, Will, Deeds

Corporate Law - will format, will by disabled person in favour of wife & daughter , revocation of will , simple will giving property to wife , will for religious and charity , simple will , complicated will , lease deed formats, lease of house on monthly tenancy , lease deed of land , agreement, deed, bond, indemnity bond with surety to ito , indemnity b...

In absence of trust deed CIT cannot consider Trust Registration Application

Shri Swaminarayan Mandir Vs Director of Income-tax (Exemption) (ITAT Ahemdabad) - In the present case, the assessee was not having any trust deed. So it is quite difficult for the ld. Commissioner to arrive at a firm conclusion about the objects of the trust. In case the trust deed is being written after application for grant of registration, then that deed can never be seen thro...

Commissioner is empowered to satisfy himself that the trust activates are genuine and in consonance with its objects before granting approval u/s 80G

Pearls Educational Institute Vs CIT (ITAT Delhi) - From the above facts, it is clear that Once the society during a period of almost 12 years has not carried out any activity, except purchasing land, to construct school/college building for imparting education, which was the main object of the society the activities of the trust for granting approva...

Recognition can not be denied U/s. 80G (5) only on the ground that the particulars of donors are not provided by Institution or fund

Kalyanam Karoti Vs CIT (ITAT Lucknow 'A' Bench) - We have considered the rival submissions and perused the material on record. In our considered view , the reasons advanced by the learned CIT for refusing to grant continuation of recognition u/s 80G(5) are superfluous and do not stand to legal scrutiny within the meaning of section 80G(5). ...

Section 164 attracted when shares of beneficiaries are unknown

CIT Vs P. Sekar Trust (Madras High Court) - Section 164 gets attracted only when the shares of the beneficiaries are unknown, which is manifest from the marginal heading of that section itself; so long as the trust deed gives the details of the beneficiaries and the description of the person who is to be benefited, the beneficiaries cannot be...

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Recent Posts in "Trust Deed"

Points To Be Noted Before Drafting A Trust Deed

A Public Charitable Trust Learn the must-know details of drafting a trust deed as per Indian Governments Rules. Points to be noted before creating a trust!...

Posted Under: Finance |

Trust Deed Format for Charitable Medical Teaching Institute

Trust Deed Format For Charitable Medical Teaching Institute–Section 2(15) of Income Tax Act. 1961 TRUST DEED This Deed of Public Charitable Trust executed on this…………… day of……………………….between Shri……………………… son of Shri…………………… Resident of ………………………..herei...

Posted Under: Finance |

Trust: Creation, Trust Deed & Registration

As per section 3 of Indian Trust Act 1882: “A Trust is an obligation annexed to the ownership of the property, and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the advantage of another, or of another and therefore the owner.” CREATION OF TRUST […]...

Posted Under: Finance |

Draft of Public Charitable Trust Deed

Draft of Public Charitable Trust Deed THIS INDENTURE made at _____ this ——- day of ———– 1990 BETWEEN __________ called ‘the Settlor’ (which expression shall unless it be repugnant to the context or meaning thereof be deemed to include his heirs, executors or administrator) of the One Part AN...

Posted Under: Finance |

General Principles of Drafting with Focus on Contents of Deed

Legal drafting is the most important instrument of legal communication. A professional need to have a very good hand at drafting as the skill to draft well is the skill to think and communicate well. Drafting is the collection and placing of all aspects of the matter in a logical manner and a lucid style […]...

Posted Under: Finance |

In absence of trust deed CIT cannot consider Trust Registration Application

Shri Swaminarayan Mandir Vs Director of Income-tax (Exemption) (ITAT Ahemdabad)

In the present case, the assessee was not having any trust deed. So it is quite difficult for the ld. Commissioner to arrive at a firm conclusion about the objects of the trust. In case the trust deed is being written after application for grant of registration, then that deed can never be seen through by the ld. Commissioner for satisfyi...

Compliance Partnership firm – Forms, Fees and Documentation

Partnership is simple to form and manage compared to company and LLP. However there are requirement of filing various forms in case of change in address, addition / removal of partner, change in firm name or business place etc. The article give you a tabular presentation of requirement for filing forms in Maharashtra State with time limit...

Posted Under: Finance |

Format of Decleration to be taken from Donee by Trusts for donation received towards Corpus Fund

As we all know anonymous donations received by a trust are taxable, so every charitable trust has to keep the records of donation received which includes keeping the name, address and PAN of donee. If donations are received towards corpus than trust should obtain from donee an instruction mentioning his intention to treat the donation giv...

Posted Under: Finance |

Commissioner is empowered to satisfy himself that the trust activates are genuine and in consonance with its objects before granting approval u/s 80G

Pearls Educational Institute Vs CIT (ITAT Delhi)

From the above facts, it is clear that Once the society during a period of almost 12 years has not carried out any activity, except purchasing land, to construct school/college building for imparting education, which was the main object of the society the activities of the trust for granting approval under section 80G cannot be called gen...

Formation & Taxation of Charitable Trust

A public charitable or religious institution can be formed either as a Trust or as a Society or as a Company registered u/s 25 of the Companies Act. It generally takes the form of a trust when it is formed primarily by one or more persons. To form a Society at least seven persons are required. Institutions engaged in promotion of art, cul...

Posted Under: Finance |

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