What is a Trust?

A trust is a legally formed organization where the owner is the trustor and beneficiary is the trustee. The main purpose of forming a trust is to ensure an effortless transfer of the property of
the owner of the trust in the name of the beneficiaries (trustees) as per the provisions mentioned in the trust deed. All the registered trusts in India are governed by the Indian Trust Act 1882. The
registered trusts in India, hence, shall have to adhere to the legal provisions of the said Act.

Types of Trust in India

Public Trust
A Public Trust is an organization created to benefit the public in general or different classes of people and is not restricted to a selected group of people. A trust created with a charitable or
religious purpose shall be called Public Charitable Trust.

Private Trust
A Private Trust is an organization which is created for the advantage of a specific person or a specific class of people.
Documents Required
★ Name & Address of the Trust
★ Name and Address and Aadhar Card of the trustees
★ PAN Card of the Trust
★ Audit Report prepared by CA (Including Audit report, Income and Expenditure Statement, Balance sheet, Contribution Calculation etc.)
★ Affidavit of the trustees
★ Membership certificate of the CA issued by ICAI
★ Other Documents, if any
★ Corpus certificate, if any