Transfer of school permissions from society to trust
Vijaya Bhaskar
(Querist) 20 January 2024
This query is : Resolved
Dear Learned Experts
There is a school having permissions to run educational institution from 1st std to 5th std. For personal reasons they wanted to dissolve the society.
As per the dissolution clause of the society , it is required to transfer the property after satisfying all the claims and liabilities remaining to transfer to another trust/society/association having similar objects and having 12a/80g.
There is a Trust having 12A/80g willing to take over the school. The society wants to transfer the property and other things to the trust having similar objects, 12/a and 80g.
I would like to know whether the education department permits the Trust to take over school including the transfer of permission granted to the society in the name of Trust provided that the children, staff etc will continue in the trust
Is there any procedure to be followed, Please suggest.
kavksatyanarayana
(Expert) 20 January 2024
After obtaining permission from the Income Tax Department, both the society and Trust, in their General Body meetings approve taking and handing the assets, and liabilities, then permission from the DEO.
Vijaya Bhaskar
(Querist) 20 January 2024
Do we need to apply for permission from DEO again sir or will the current permission granted to the society will be transferred in the name of trust.
Vijaya Bhaskar
(Querist) 21 January 2024
Ok sir, will visit the office and find out.
Thanks for your responses
kavksatyanarayana
(Expert) 21 January 2024
ok sir. welcome.................................................................
T. Kalaiselvan, Advocate
(Expert) 21 January 2024
