- Trusts are governed by Relevant state trust act or Bombay Public Trusts Act.
First thing is to select a unique name of trust. The name should not be similar with any other trust name, trademark, once name is finalised further documnets can be prepared.
It is required to register the national and charitable trust deed with the nearby local registrar of trust having jurisdiction as per the Indian Trusts Act, 1882. Submit all other KYC like trust deed on stamp paper, copy of id proof of settlor, trustee, and witness.
At the time of registration, the settler with 2 witnesses will be personally present along with original identity proof. The registrar kept the photocopy & returns the original registered copy of the trust deed to parties. Settlor will put his sign on all the pages of photocopy of trust deed.
After completion of trust registration, Trustee will apply for pan card of trust that will used in opening a bank account and then comply the provision of Income tax act.
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