Trust Registration in Coimbatore
Trust is a place that has been established for the charitable purposes. We Smart Auditor have been nominated as the best consultant which takes care of the Trust registration and allows the client to sit back without any hassles. Our firm has now extended its services in various places like Press colony, Peelamedu, Ganapathy, Gopalapuram and Keeranatham. Trust registration in Coimbatore is done since it gains the credibility among the public and the Government. The trust registration commences with drafting of the trust deed and the trust deed can be formed in non-judicial stamp paper. The offers given by the government can be made available only if the trust stands as a separate legal entity. These charitable trusts are also known as non- profit organization. Laws like Trust Act 1882 has been proclaimed to encourage the procedure for the trust registration.
Any mentally sound person who is above the age of 18 years is eligible to form the charitable ‘Trust’. Trust registration in Coimbatore is necessary; only then it can have several benefits and exemptions from the Government. There are some important elements in the Trust registration like Author, Trustee, Beneficiaries, trust property and trust deed.The trust has various features. It includes the reduced estate taxes, avoiding the court fees and the probate and allocation of assets to the desired people. The purpose of creating the trust should be mentioned. They can also claim the tax exemption benefits and also it can be created for the benefit of the family members. The trust gets established based on the agreement between the two parties. The Deputy registrar of the relevant area is the authority of the registration and a minimum of 2 trustees are required. Depending upon the types of the trust, there are some annual compliance. The trust registration in Coimbatore through smartauditor is at an average cost.
Documents required for the Trust registration
- Identity proofs like Passport, Voter ID, Driving license
- Copy of the utility bills
- Copy of the property registration
- Trust deed
- NOC if the land is on rent from the landlord
Benefits of Trust registration
The Trust registration in Coimbatore has various benefits. They are,
- Benefit of tax exemption
- They have benefits from the entertainment tax and service tax
- Land from the government
- It is beneficial for the society.
- Audit is fewer
- They can obtain the statutory rights
- They have the legal guidance.