CHARITABLE TRUST
Gopinath
(Querist) 09 May 2010
This query is : Resolved
Hello
I am a student and I need to help the needy,poor, and other community people of the society.I am residing in Bangalore and my age is 20 years.How can I help the poor and sick people.I want to form a Small charitable trust[CT] and help the poor it is possible or not?
1.To form a Charitable trust age limit is there?
2.what is the minimum investment to form a CT?
3.Whether to register in Income tax Department?
4.What is the minimum people and maximum people in a CT?
5.Do I want to have a immovable to form CT?
6.how many days it will take to form a CT?
MY INTENTION IS TO SERVE THE POOR AND NOT TO MAKE ANY PROFIT BECAUSE I HAD FACED THE SOCIETY WHEN MY PARENTS WAS NOT CAPABLE OF PROVIDING ME THE BASIC NEEDS.
Raj Kumar Makkad
(Expert) 09 May 2010
It is possible to form CT.
1. Minimum age limit is 18 years.
2. Rs. 100/-
3. After 3 years of commencement of CT, you can get it registered with IT authorities under section 12 C for the purpose of seeking exemption under section 80G.
4. Minimum 2 and no maximum limit.
5. No.
6. Can be formed on the same day also.
I appreciate your efforts/desire and so I suggest not to indulge in formation of any new trust for this purpose but engage in already working organizations in this field like SEWA BHARTI, VANVASI KALYAN ASHRAM ETC.
B K Raghavendra Rao
(Expert) 10 May 2010
Such activities cannot be done by one or two persons. You should be a group of like minded pious people with integrity and sincerety. To form a trust or an association, you may have to spend about Rs. 1,000 to 2,000 in Bangalore. If it is a trust, you need to register with the sub-registrar wherein registration charge itself is minimum Rs. 500/-. If it is association, it would be around Rs. 1,000 for registration and other expenses.
Please note that forming trust or association is not the only way to help the poor and needy persons. You could do it even in your individual capacity. However, if you want to do on a larger scale, you need to form an association or a trust. Fund mobilising may be a great problem. Otherwise, your intention is noble.
