Trust can be built by anyone who can do contracts: This includes a person, HUF, AOP, establishment, and so on. If the trust is built on or on behalf of a minor, the consent of the principal civil court is required.
Registration of trust is not yet considered a legal obligation for a private trust with a Will. In the case of Public trust, whether it relates to movable or immovable property and whether created under a will or inter vivos, the registration of a trust is voluntary.
A trustee is authorized to sell land through a public domain. He cannot sell the land on a private contract.
To obtain registration under Section 12A, an application on form 10A for the registration of an indigent or religious organization can be made to the IT department portal.
It is the legal obligation of all registered trustees to e-file a return. If the Trust wants to check its account, then an IT return should be filed along with a certified Digital Signature of the CA responsible for the audit.
Trustees are set up to facilitate the legalization of trustees' assets, to ensure that such assets are legally distributed among designated beneficiaries, and to avoid or reduce property or inheritance taxes.
No, the concept of lifetime registration under all provisions is dismissed.
The trust may be canceled for the reasons as stated by Section 78 of the Indian Trust Act 1882.
It is irrevocable in nature. For reasons such as the withdrawal of trustees, the absence of trustees, mismanagement of trust, the trust may be merged with a trust for the same purpose with the consent of the court.
There is no specific trust registration certificate. On the other hand, the registration of a trust deed with the appropriate authorities will suffice.