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Annual compliances for Trust.

Annual compliances for Trust.

Required timing - before due dates of compliance

Completely online – no need to visit office

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There are 2 types of Trust 

Private Trust and Public Trust. 

Private Trust is governed by Indian Trusts Act, 1882 and there is no as such law to govern the Public Trusts in India

 

The bye laws of Public trust are treated at par with Act which can governs the Public Trust. While drafting the Trust deed adequate attention must be given that all mandatory clauses like irrevocability clause, appointment and removal of trustees, activities that can be done in the Trust and clause that authorise governing body to make necessary changes in Trust deed to achieve the goal of trust creation must be there.

 

How the Trusts are created in India ?

 

we require at least 2 persons while creating a trust. (Settler and Trustee). The Settler will introduce the initial corpus fund to start the trust activities

Documents required for Registration purpose

.Following documents are required to be registered with Sub registrar of the area which you will show as registered office of the Trust. Required documents 

 Trust Deed 

 KYC of Settler and Trustee 

Witness 

 Address proof of Registered Office Like Rent Agreement with Electricity Bill 

After registration of your Trust Deed with Sub- registrar (In some states Charity Commissioner) you can apply for PAN Card of your Trust. After receiving of your Trust PAN Card, you can open Bank account.
 

Registration that must be acquired after creation of Trust

 √ Registration U/s 12AB and Section 80G of Income Tax Act, 1961

 √ NGO Darpan Registration 

√ E Anudaan Registration 

√ FCRA Registration 

√ Form CSR-1 Registration with MCA


 

Compliances that Must be done after Trust Creation

√ Conduct of Board Meeting and General Meeting

 √ Governing Body members has to ensure that activities of Trust must be according to Trust Deed and no funds of Trust be used for Personal benefits of Trustee or their family members

 √ Audit of Books of accounts on annual basis from a Chartered Accountant 

√ Filing of ITR before due date so that benefits of Section 11 and 12 of Income Tax Act can be availed

 √ Keep a record of all Minutes of Governing body and Annual General meeting of Members

 √ Maintenance of Books of accounts as required by Section 12AB, 80G and FCRA Act

 √ Filing of TDS Returns and donors return from whom donations are received U/s 80G before due date and issuance of Certificate to them

 

Our best plans

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All inclusive

Basic

Audit of Books of accounts
filing of ITR
 

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Rs.

35000

20000

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All inclusive

Standard

Audit of Books of accounts
filing of ITR
Book keeping and accounting up to 400 entries annually

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Rs.

40000

26000

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All inclusive

Premium

Audit of Books of accounts
filing of ITR

Book keeping and accounting up to 800 entries annually

Filing of TDS Returns and donors return from whom donations are received U/s 80G
 

Maintenance of Books of accounts as required by Section 12AB, 80G and FCRA Act

 

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Rs.

50000

40000

Frequently asked questions

Is audit mandatory for private trust?

Is trust income taxed twice?

How does a family trust get taxed?

When can you distribute trust income?

Does a trust get a standard deduction?

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Kolkata, West Bengal

36/A Kadapara, Kankurgachi, Kolkata-700054

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Andhra Pradesh

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Gangtok

Below Supermarket (turning) M.G. Road , Gangtok, East Sikkim-737101.

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Siliguri

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