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sharad (None)     15 July 2011

Charitable trust

Hi,

My friend tragically died leaving behind two young children. Many people want to donate to help out his children. I was looking to explore options for the best way to collect these donations and use it for the benefit of his children like some Long term FD.

Do I need to make a separate legal entity or can I collect it in my personal account?

Also in long run I am looking to open a charitable trust in my friends name. Is there any link that some one can refer to which would help me start on this process also?

Thank you all



Learning

 2 Replies

Naveen Bhardwaj (Advocate & Legal Consultant)     15 July 2011

Dear Sharad,

The details for the trust can be found at the following link:

https://www.dateyvs.com/gener06.htm

Thanks and regars

Naveen BHardwaj

Attorney at Law

(India)

 

 

A V Vishal (Advocate)     15 July 2011

If the trust works for specific benefit of some beneficiries then it will not partake the character of a public charitable trust and can be taxed.

If it for the benefit of general public it will be exempted under tax laws.


Advise to consult a local CA who is involved in creation and other matters involving trusts for proper guidance.


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