TRUST
what is charitable trust in india ?
Charitable Trusts are formed in India for one or more of the following reasons: Discharge of the Charitable an/or religious sentiments of the Author, in a way that ensures public benefit. For claiming exemption from Income Tax, as the case may be, in respect of incomes applied to charitable or religious purposes.
What is a charitable trust and how does it work?
A charitable trust is set up specifically to help manage charitable giving. It distributes its proceeds and assets to charity based on your instructions, and can do so both during your lifetime and after your death. For this reason charitable trusts are often a significant portion of estate planning.
Benefits of a Charitable Remainder Trust
- Convert an appreciated asset into lifetime income
- Reduce your current income taxes with charitable income tax deduction
- Pay no capital gains tax when the asset is sold
- Reduce or eliminate your estate taxes
- Gain protection from creditors for the gifted asset
- Benefit one or more charities
- Receive more income over your lifetime than if you had sold the asset yourself
- Leave more to your children or others by using a life insurance trust to replace the gifted asset
- What are the Disadvantages of a Trust?
- Costs. When a decedent passes with only a will in place, the decedent's estate is subject to probate. ...
- Record Keeping. It is essential to maintain detailed records of property transferred into and out of a trust. ...
- No Protection from Creditors.
Documents Required For Trust Registration in India
- Copy of identification proof (Passport, Driving license, Voter ID, and Aadhaar card and pan card) of trustees.
- Trust deed on a Stamp paper*
Trust name
Trust office address
Please Sent Your details this format
Designation......
Name-….…...
C/o...........
Vill........
Po.........
Ps.......
Dist........
Pin.......
Pan no.....
Aadhaar no......
Profession- ........
Religion ........
Mobile no
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