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SHIVAPRASAD PATIL 08 September 2024

Registration of trust

Hello everyone,

I want to register a trust in Karnataka. But I came to know that "now we can't form trust, since trust act was abolished. Now only society can be registered.

Now I need that, is it really true that now trust can not be formed?

If no, please put a light on procedure to register a trust in Karnataka.

Learning

5 Replies

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer) 08 September 2024

In Maharashtr an association or a body of individuals can register with the charity commissioner as a society under the Society's Registration Act. If registered as a society it is compulsory to register under the Public Trust Act also with the same charity commissioner.

Dr. J C Vashista (Advocate ) 09 September 2024

Can you please let me know which one of the "Trust" Act(s) i.e., Charitable Endowment Act,1890 or Charitable & Religous Trust Act,1920 Act have been abolished ?

Real Soul.... (LEGAL) 09 September 2024

that is really Breaking - i was not knowing that the act is abolished.

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 09 September 2024

Yes, it is true that the procedure for registering a trust has changed in Karnataka. As per the new rules, trusts cannot be registered as a "Public Trust" anymore. Instead, you can register a trust as a "Charitable Trust" or a "Private Trust". To register a trust in Karnataka, follow these steps: 1. _Draft the trust deed_: Create a trust deed outlining the trust's objectives, beneficiaries, trustees, and assets. 2. _Choose a name_: Select a unique name for your trust. 3. _Obtain a PAN_: Get a Permanent Account Number (PAN) for the trust. 4. _Register with the Charity Commissioner_: Register the trust with the Charity Commissioner's office in Karnataka. 5. _Obtain an registration certificate_: Get a registration certificate from the Charity Commissioner. 6. _Register with the Income Tax Department_: Register the trust with the Income Tax Department and obtain a registration number (optional). 7. _Open a bank account_: Open a bank account in the name of the trust. Please note that the procedure and requirements may vary depending on the type of trust and specific circumstances. It's recommended to consult with a legal professional to ensure compliance with all applicable laws and regulations. Additionally, you may want to consider the following: - _Consult a lawyer_: Get legal advice to ensure the trust deed is properly drafted and executed. - _Compliance with state and central laws_: Ensure compliance with relevant state and central laws, such as the Karnataka Public Trusts Act and the Income Tax Act. - _Annual reporting_: File annual reports with the Charity Commissioner and the Income Tax Department (if applicable).

T. Kalaiselvan, Advocate (Advocate) 10 September 2024

I agree with the opinion rendered by Shri Rama Chary.

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