Trust Registration in Bangalore

For hassle-free Online Trust Registration in Bangalore, Smartcorp stands out as the ideal choice. Serving across Whitefield, Bannerghatta, Bellandur, Madiwala, and Yelahanka, we offer a cost-effective approach. Creating a trust is an excellent avenue for those keen on charitable activities with added tax benefits. The process of establishing this entity involves fewer limitations compared to other registrations.

In Karnataka, Trust Registration can be initiated by two or more individuals aiming to uplift society's educational and economic status. Profits earned from economic activities are reinvested into non-profit endeavors.

Private trusts adhere to the Indian Trusts Act of 1882, while public trusts—be they charitable or religious—must follow state-specific legislation and related acts like the Charitable and Religious Trusts Act 1920, Religious Endowments Act 1863, and Charitable Endowments Act 1890. A Trust registered in Bangalore can be exempt from paying additional income tax if holding a 12A certificate from the Income Tax Department.

Documents required for Trust Registration in Bangalore

For Trust Registration process, you'll need:

• Identity proofs like Passport, Voter ID, Driving license
• Copy of the utility bills.
• Copy of the property registration
• Trust deed
• NOC from the land owner- if the land is on rent

Parties Involved in Trust Formatione

Settler : The individual initiating the trust with their assets, also known as Trustor or Grantor.

Trustee: Responsible for managing trust assets for the benefit of the Beneficiary. They're legally obligated to safeguard the assets solely for the beneficiaries' benefit and are barred from using them for personal gain.

Beneficiary:The party receiving benefits from the trust property. They can be specifically named in the trust deed or represent a clearly defined group of individuals.

They are the above said parties in the charitable trust registration.

What are the objectives of the trust in general?

• As per Section 4, all purposes are considered valid except if they:
• Violate existing laws.
• Contradict legal provisions.
• Involve fraud.
• Cause harm to others or their property.
• Are unethical or against public policies.