About charitable trust
Shakti Prasad Palo
(Querist) 24 October 2011
This query is : Resolved
Dear Experts,
I have started a public charitable trust for the care of under-previleged children. Please help me out in the following:
1. Shall I have to make a PAN card for my trust?
2. Can I receive funds from abroad?
3. What is the maximum limit for the trust members? Can I include volunteers?
With Regards
Shakti
Advocate Rajkumarlaxman
(Expert) 24 October 2011
Answer to all question is yes.
you have to get isuued National B Certifcate to evade from tax and get funds from Abroad.
Sankaranarayanan
(Expert) 24 October 2011
yes you can get your maximum but all subject to statuary regularity and commitment
prabhakar singh
(Expert) 24 October 2011
While answer is right you need three years to qualify for foreign donations if i rightly remember things.
Shonee Kapoor
(Expert) 25 October 2011
1. Shall I have to make a PAN card for my trust?
YES, FOR OPENING BANK ACCOUNT YOU WOULD NEED PAN
2. Can I receive funds from abroad?
YES, IT WOULD BE AS PER THE REQUIREMENTS OF LAW. YOU WOULD NEED A CLEARANCE FOR FCRA (FORIEGN CONTRIBUTIONS REGULATIONS ACT) FROM MINISTRY OF HOME AFFAIRS.
3. What is the maximum limit for the trust members? Can I include volunteers?
THERE IS NO LIMIT.
REGARDS,
SHONEE KAPOOR
HARASSED.BY.498A@GMAIL.COM
Sadashiv Rupchand Gaikwad
(Expert) 27 October 2011
Trust is separate legal entity. Registration certificate from Charity commissioner and address proof is main document for PAN. Trust can get foreign funds.Periodically audit should be done for obtaining exemption u/s 80G.
M V Gupta
(Expert) 27 October 2011
I would like to add to what Mr. Shonee kapoor stated, that Sec.11 (1) of the Foreign Conributions Regulation Act, 2010 Provides that no person resident in India and having a definite cultural, economic, educational, rligious or social programme shall aceept foreign contributions unless such person obtains certificate of registrations from the central Govt. Sub Sec (2) of the Sectionb provides that if such person is not registered , he or it may accept foreign contribution after obtaining prior permission from the Central Govt. As regards the replies to other queries are concerned I am in agreement with theExperts.
