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Trust Registration
All about Trust Registration
It is registered under the Indian Trust Act, 1882. It is
registered at the office of sub-registrar of under whose jurisdiction the
register office of the trust is situated. A trust can operate at all India
level no matter where it is situated. The first step to register a trust starts with the drafting of a trust
deed. The trust deed is to be executed on appropriate non-judicial stamp paper,
the rate of stamp duty differs from state to state. On the appointed date the
trust deed is presented before the sub-registrar where all trustees need to be
present along with two witnesses. Trusts are classified into two
categories:-
Public Trust-Trust created for the promotion of public
welfare and not for the benefit of one or more individuals. It may or may not
be a charitable trust.
Private Trust- A trust created for the benefit of individuals other than a
public or charitable purpose. It is created for the financial benefit of one or
more designated beneficiaries rather than for the public benefit.