Public Charitable Trust

abhishek (Querist) 29 March 2011 This query is : Resolved
Urgent: Please help :
a trustee has transferred its individual property to trust for starting a educational institution as public charitable trust... now he wants it property back in his name as he want to sale it as there is no scope for educational institution to be developed.... so how he should go about it ...

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adv. rajeev ( rajoo ) (Expert) 29 March 2011
He has to take the permission from the Registrar of trusts.

preet (Expert) 30 March 2011
Once u gave property to trust, it is difficult to take back, if that purpose is not fullfil u trasfer the property on other pursose. if u only want to take back for personal usage u have to get permmision or sign affadavite from trust member and then preset that to registrar of trust.

abhishek (Querist) 30 March 2011
sir, would it not be taxable in hands of trust... and whether trustee can transfer the property in his name or he to do it some name of relatives ... please do clear my doubts

soumitra basu (Expert) 02 April 2011
If the property had been transferred for a specific purpose and if that purpose could not be achieved, in that case all the trustee can take a joint resolution to transfer the specific property to the donor. No taxation should be made in the hands of the donor or donee.

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