{"id":4528,"date":"2022-06-04T09:38:24","date_gmt":"2022-06-04T09:38:24","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=4528"},"modified":"2023-05-28T07:40:00","modified_gmt":"2023-05-28T07:40:00","slug":"trust-registration-in-india-documents-process-benefits","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/","title":{"rendered":"Trust Registration in India &#8211; Documents, Process, Benefits"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d02feff031e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d02feff031e\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#Trust_Registration_%E2%80%93_An_overview\" title=\"Trust Registration \u2013 An overview \">Trust Registration \u2013 An overview <\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#In_Indian_context_what_is_meant_by_trust\" title=\"In Indian context, what is meant by trust? \">In Indian context, what is meant by trust? <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#Merits_of_a_Indian_trust_Registration\" title=\"Merits of a Indian trust Registration\">Merits of a Indian trust Registration<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#What_are_the_Kind_of_Trusts_in_India\" title=\"What are the Kind of Trusts in India?\">What are the Kind of Trusts in India?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#Public_Trust\" title=\"Public Trust\">Public Trust<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#Private_Trust\" title=\"Private Trust\">Private Trust<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#Public-Cum-Private_Trusts\" title=\"Public-Cum-Private Trusts\">Public-Cum-Private Trusts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#Basic_Documents_required_by_registration_of_a_Trust_in_India\" title=\"Basic Documents required by registration of a Trust in India. \">Basic Documents required by registration of a Trust in India. <\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#What_is_the_Step-by-Step_procedure_for_registering_a_trust_in_India\" title=\"What is the Step-by-Step procedure for registering a trust in India ?\">What is the Step-by-Step procedure for registering a trust in India ?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#STEP_NO1_Selecting_a_Apt_Name_of_the_trust\" title=\"STEP NO.1: Selecting a Apt Name of the trust\">STEP NO.1: Selecting a Apt Name of the trust<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#STEP_NO_2_DRAFTING_OF_A_TRUST_DEED\" title=\"STEP NO. 2 : DRAFTING OF A TRUST DEED \">STEP NO. 2 : DRAFTING OF A TRUST DEED <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#Applicability_of_Tax_Deduction_Account_Number_TAN\" title=\"Applicability of Tax Deduction Account Number (TAN) \">Applicability of Tax Deduction Account Number (TAN) <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#Failure_to_furnish_the_Income_tax_Return\" title=\"Failure to furnish the Income tax Return\">Failure to furnish the Income tax Return<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.caindelhiindia.com\/blog\/trust-registration-in-india-documents-process-benefits\/#What_is_Role_under_section_12AB_on_the_Trust_registered\" title=\"What is Role under section 12AB on the Trust registered?\">What is Role under section 12AB on the Trust registered?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Trust_Registration_%E2%80%93_An_overview\"><\/span><strong><span style=\"color: #000080;\">Trust Registration \u2013 An overview<\/span> <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-4529\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/06\/trust.jpg\" alt=\"trust\" width=\"1026\" height=\"574\" \/><\/p>\n<p>The meaning of trust registration is legalizing the trust deed ((a legal contract between Trustee &amp; settlor) from the registrar of the respective judistriction. The trust works as a legal medium that is used for the lawful distribution of the settlor\u2019s assets among the concerned beneficiaries. The trust becomes valid as soon as the registrar provides its authorization to the trust deed.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"In_Indian_context_what_is_meant_by_trust\"><\/span><strong><span style=\"color: #000080;\">In Indian context, what is meant by trust?<\/span> <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>All the registered deeds in India are governed by Indian trust Act 1882. It facilitates the legal provisions for the same. The Trust is basically a legal arrangement where the Trust\u2019s owner transfers the property to the concerned Trustee. The motive of the firm is smooth transfer between the parties as stated in the deed.<\/li>\n<li>A trustee, selected by the grantor, is liable for administering the Trust and also distributing his\/her assets to the beneficiaries selected by the grantor when the Trust is set up. To name a few , some common beneficiaries in trust of India can be Heir, family members, or charity. Registering a trust comes with various benefits that is less tax rates, safeguard of assets etc<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><span style=\"color: #000080;\"><strong>There are various kinds of trusts in India, including <\/strong><\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Asset protection<\/li>\n<li>Spendthrift<\/li>\n<li>Charitable<\/li>\n<li>Revocable;<\/li>\n<li>Irrevocable<\/li>\n<li>Special needs<\/li>\n<li>Testamentary<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Merits_of_a_Indian_trust_Registration\"><\/span><strong><span style=\"color: #000080;\">Merits of a Indian trust Registration<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong><span style=\"color: #000080;\">To Do charitable work<\/span> <\/strong><\/p>\n<ul>\n<li>A charitable trust basically provides a way to set up assets to benefit ourselves, beneficiaries involved and a charity simultaneously. People who want to help the society by way of non-essential assets including stocks or real estate.<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\"><strong>Benefit <\/strong><strong>Accessibility<\/strong><\/span><strong><span style=\"color: #000080;\"> from tax exemptions<\/span> <\/strong><\/p>\n<ul>\n<li>There are various exemptions offered by income tax department. since the main aim of a trust is not making profit , many tax relaxations are enjoyed by a trust. A trust deed shall be available to avail these benefits. Trust are helpful when it comes to tax relaxation on capital and income.<\/li>\n<\/ul>\n<p><strong><span style=\"color: #000080;\">Provide help to those who need financial aid.<\/span> <\/strong><\/p>\n<ul>\n<li>It gives all the help to deprived people through charitable activities.<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\"><strong>To avoid much legal obstacles <\/strong><\/span><\/p>\n<ul>\n<li>It is ensure by the Act governing trusts that legal protection is given to trusts. It makes sure that no other party make any unnecessary claim that may act as a harm for trusts.<\/li>\n<\/ul>\n<p><strong><span style=\"color: #000080;\">Avail legal coverage of family wealth<\/span> <\/strong><\/p>\n<ul>\n<li>Without trust it would not be possible for a trustor to split between individuals. However trust allows us to do so.<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\"><strong>To Avoid Probate Court<\/strong><\/span><\/p>\n<ul>\n<li>Trust registration can be used as a method for transferring an asset to the heir in the case the will is not present. As the legal title of the assets transfers from the settlor to the Trustee. when they are &#8220;settled\u201d, no change of ownership after settlor demise, thus evading the requirement for probate of a will on account of trust assets.<\/li>\n<li>the trust is a Kind of agreement that does not require for additional registration. economic adversity can be avoided which the surviving spouse earlier had to face while waiting for grant of probate.<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\"><strong>Emigration\/ Immigration of Family<\/strong><\/span><\/p>\n<ul>\n<li>To bring flexibility and safeguarding the assets of an organization , an individual can establish the trust to get better benefits of tax exemptions when the individual or his\/her heir move to another country.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"What_are_the_Kind_of_Trusts_in_India\"><\/span><span style=\"color: #000080;\"><strong>What are the Kind of Trusts in India?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong><span style=\"color: #000080;\">There are 3 types of trusts Namely in India:<\/span> <\/strong><\/p>\n<ul>\n<li>Public Cum-Private Trust<\/li>\n<li>Private Trust<\/li>\n<li>Public Trust<\/li>\n<\/ul>\n<p>Private trusts work according to the Indian trusts Act 1882. But, Public trusts are divided into religious and charitable trusts. For the enforcement of public trusts in India various acts such as the Religious Endowments Act, 1863, Charitable and Religious Trust Act, 1920, the Bombay Public Trust Act, 1950.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Public_Trust\"><\/span><span style=\"color: #000080;\"><strong>Public Trust<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Public trusts work not only for the purpose of the specific beneficiaries but public at large. This doesn\u2019t work as per Indian trusts act. It works for the charitable and religious purposes. It works as per the law which is in effect for time being.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Private_Trust\"><\/span><span style=\"color: #000080;\"><strong>Private Trust<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Private trust is legal arrangement in the form of a trust that is created to help individuals other than public or charitable purposes. It. It works for the financial benefits for more than one beneficiaries. private trusts follow the provisions of Indian trusts act,1882. It doesn\u2019t involve in charitable purpose and only benefit to the designated beneficiaries.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Public-Cum-Private_Trusts\"><\/span><span style=\"color: #000080;\"><strong>Public-Cum-Private Trusts<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>This trusts works for both public at large as well as designated beneficiaries. Both public and private can benefit from this trusts.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Basic_Documents_required_by_registration_of_a_Trust_in_India\"><\/span><strong><span style=\"color: #000080;\">Basic Documents required by registration of a Trust in India.<\/span> <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-4532\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/06\/Documents-required-for-Trust-Registration-scaled.jpg\" alt=\"Documents-required-for-Trust-Registration\" width=\"1261\" height=\"2560\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/06\/Documents-required-for-Trust-Registration-scaled.jpg 1261w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/06\/Documents-required-for-Trust-Registration-148x300.jpg 148w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/06\/Documents-required-for-Trust-Registration-504x1024.jpg 504w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/06\/Documents-required-for-Trust-Registration-768x1559.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/06\/Documents-required-for-Trust-Registration-757x1536.jpg 757w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/06\/Documents-required-for-Trust-Registration-1009x2048.jpg 1009w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/06\/Documents-required-for-Trust-Registration-800x1624.jpg 800w\" sizes=\"(max-width: 1261px) 100vw, 1261px\" \/><\/p>\n<p><strong><span style=\"color: #000080;\">Trust deed must reflect the following information:<\/span><\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Number of trustees, Trust registered address , Proposed name of trust , Proposed Rules that will govern the trust, Presence of settlor ,\u00a0 two witnesses at the time of registration of Trust<\/li>\n<li>PAN details<\/li>\n<li>Trustee and settlor Details such as Self-attested copy Id &amp; Address Proof and occupation<\/li>\n<li>Identity proof of Trustor &amp; Trustee such as Aadhaar Card, Voter ID, Passport.<\/li>\n<li>Trustee &amp; settlor<\/li>\n<li>Address Proof of\u00a0 Registered Office. Eg:\u00a0 Copy of Certificate of Property\/Utility Bills<\/li>\n<li>Trust Deed on Proper Stamp Value<\/li>\n<li>No objection certification from the Landlord if the property is rented .<\/li>\n<li>Trustee &amp; settlor Photos<\/li>\n<li>Objective of Trust deed.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"What_is_the_Step-by-Step_procedure_for_registering_a_trust_in_India\"><\/span><span style=\"color: #000080;\"><strong>What is the Step-by-Step procedure for registering a trust in India ?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-4533\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/06\/111.png\" alt=\"Step-by-Step procedure for registering a trust in India \" width=\"865\" height=\"730\" \/><\/p>\n<p><span style=\"color: #000080;\"><strong>Following are the steps that are to be done for registration of trusts in India<\/strong><\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"STEP_NO1_Selecting_a_Apt_Name_of_the_trust\"><\/span><span style=\"color: #000080;\"><strong>STEP NO.1: Selecting a Apt Name of the trust<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The selection of a name for the proposed Trust is the first and most important stage in the Trust registration procedure. The trust shall have a name and the name must be appropriate. Following are some points that are to be kept in mind while selecting the name of the trust.<\/p>\n<ul>\n<li>Trust Name shall be as per the Emblems and Names Act, 1950<\/li>\n<li>Trademark act shall not be violated whatsoever when it comes to Trademark Act.<\/li>\n<li>Name shall not be copied from somewhere and it must have originality.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"STEP_NO_2_DRAFTING_OF_A_TRUST_DEED\"><\/span><span style=\"color: #000080;\"><strong>STEP NO. 2 : DRAFTING OF A TRUST DEED <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Drafting of Trust Deed makes the right &amp; duties enforceable under the court of law. The trust deed consolidates the following clauses:<\/p>\n<p><strong><span style=\"color: #000080;\">Trust Objective<\/span> <\/strong><\/p>\n<ul>\n<li>The objective behind the formation of trust shall be well defined in the deed.<\/li>\n<\/ul>\n<p><strong><span style=\"color: #000080;\">Trust Acceptance of funds<\/span> <\/strong><\/p>\n<ul>\n<li>This clause includes the provisions regarding acceptance of donation, contribution and subscription from outside person, charitable avenue or from government either in form of cash, immovable assets without charge. Moreover the trust shall not accept any acceptance that may hamper the objective of the trust.<\/li>\n<\/ul>\n<p><strong><span style=\"color: #000080;\">Investment:<\/span> <\/strong><\/p>\n<ul>\n<li>The investment clause states that prescribed conditions for lawful &amp; effective administration of the trust\u2019s fund. Moreover, this section outlined the parameters for the effective allocation of excess funds that are not in use and might be used to generate additional income through investment.<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\"><strong>The trustee Power<\/strong><\/span><\/p>\n<p>This specific clause talks All the power and responsibility of trustees shall be specified here. This clause confer the following powers to the trustees includes :<\/p>\n<ul>\n<li>Investing additional funding in securities<\/li>\n<li>Accepting any gift, donation via legitimate individuals or sources<\/li>\n<li>Suing defaulters in case of legal dispute on behalf of the Trust<\/li>\n<li>Appointing employee(s)<\/li>\n<li>Alienating the trust properties<\/li>\n<li>Opening the bank account in the Trust\u2019s name<\/li>\n<\/ul>\n<p><strong><span style=\"color: #000080;\">Statutory Audit &amp; Books of Account maintains<\/span> <\/strong><\/p>\n<ul>\n<li>This clause mandates the trustees states that the book of accounts of the trust shall be maintained on a regular basis. Also, the accounts shall be audited by a certified Chartered Accounts<\/li>\n<\/ul>\n<p><strong><span style=\"color: #000080;\">WINDING UP OF TRUST<\/span> <\/strong><\/p>\n<ul>\n<li>A Trust is set to wound up when all the trust Assets &amp; Immovable Properties are lawfully distributed in the beneficiaries or to a similar entity, either directly or via resettlement. The parties shall also consider any tax liability involved. The clause also tells the requirements of conducting any legal undertaking with the approval of court\/ charity commissioner\/Any law to reduce the mitigate of legal dispute.<\/li>\n<\/ul>\n<p><strong><span style=\"color: #000080;\">Civil &amp; Criminal Penalties on Violating Compliances of Trust Registration Result<\/span> <\/strong><\/p>\n<ul>\n<li>Both civil and criminal penalties are imposed for non adherence to trust deed. Section 405 to Section 409 of The Indian Penal Code (IPC), 1860 states the provisions when there is a criminal breach of trust.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Applicability_of_Tax_Deduction_Account_Number_TAN\"><\/span><strong><span style=\"color: #000080;\">Applicability of Tax Deduction Account Number (TAN)<\/span> <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>An official request shall be made to AO (Assessing officer) for the allotment of tax deduction number after the registration is done. Form 49B shall be facilitated by Income tax Department. On all challans for payment of Amount Under section 200 of Income tax and TDS certificate as well as TDS Returns u\/s 206 , 206A and 206 to be file and required to mention TAN No quoted in all of the certificate and return.<\/li>\n<li>Under Section 272BB of Income Tax Act states that Penalty will be levied if the Trust fails to obtain a Tax Deduction Account Number. In the aforementioned situations, the aforementioned provision imposes a penalty of Rs 10,000.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Failure_to_furnish_the_Income_tax_Return\"><\/span><span style=\"color: #000080;\"><strong>Failure to furnish the Income tax Return<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>This offense can lead to huge penalties under the Act. Income return shall be consider valid even in case Tax deducted Certificate has not been provided along with return. But This certificate shall be produced within 2 years from the end of assessment year.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Role_under_section_12AB_on_the_Trust_registered\"><\/span><span style=\"color: #000080;\"><strong>What is Role under section 12AB on the Trust registered?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>To Ensuring continual exemption u\/s 10 \u00a0of income tax act, All the active existing institution or charitable trust are compulsory to registered under section 12AB that were under section:-\n<ul>\n<li>Section 80G<\/li>\n<li>Under Section 12AA<\/li>\n<li>Section 10(23C)<\/li>\n<\/ul>\n<\/li>\n<li>It is to be Noted that New Registration Under Section 12AB shall be taken where the registration was under Section 12AA or section 10(23C). Section 12AA shall no longer be valid and the new section 12AB shall be effected for process of registration for the trusts or institutions with effect from grant date of registration u\/s 12AB or the last date for application or granting permission whichever is earlier.<\/li>\n<li>As per current scenario the Central Board of Direct Taxes\u00a0has again extended the timeline for the application u\/s 12AB, 10(23C), 80G &amp; 35(1)(ii)\/(iia)\/(iii) of the income tax Act in Form No.10AB or Form No. 10A, for provisional registration or registration or intimation or provisional approval or approval of Research Associations or Trusts or Institutions etc.<\/li>\n<li>The application for registration or intimation or approval U\/s 12A, or 80G, 10(23C), 35(1)(ii)\/(iia)\/(iii) of the Income Tax Act in Form No. 10A required to be submit on or before 30 June, 2021, which is extended to 31 August, 2021 via Circular No.12 of 2021 dated on 25.06.2021, may be filed on or before 31st March, 2022.<strong><br \/>\n<\/strong><\/li>\n<\/ul>\n<p>Contact us\u00a0<a href=\"https:\/\/www.caindelhiindia.com\/\"><strong> India Financial Consultancy Corporation Pvt Ltd,<\/strong><\/a> a team of professionals and expert CA CS\u00a0 in Delhi.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trust Registration \u2013 An overview The meaning of trust registration is legalizing the trust deed ((a legal contract between Trustee &amp; settlor) from the registrar of the respective judistriction. The trust works as a legal medium that is used for the lawful distribution of the settlor\u2019s assets among the concerned beneficiaries. The trust becomes valid &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[531],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/4528"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=4528"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/4528\/revisions"}],"predecessor-version":[{"id":4531,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/4528\/revisions\/4531"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=4528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=4528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=4528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}