Trust Registration in Andaman and Nicobar

Trust Registration in Andaman and Nicobar - An Overview

Trust registration in Andaman and Nicobar is governed by the Societies Registration Act of 1860. To establish a trust in the Andaman and Nicobar Islands, a settler must draft a trust deed. It should outline the purpose, beneficiaries, trustees, and terms of the trust. The trust deed should be signed by the settlor and the trustees in the presence of two witnesses. The trust is then registered, and a unique registration number is provided. This formal registration is essential to give legal validity to the trust and ensure smooth functioning.

Benefits of Trust Registration in Andaman and Nicobar

• Tax Exemptions

  Registered trusts in Andaman and Nicobar are eligible for tax exemptions under the Income Tax Act, 1961. One can avail of exemptions on income generated from the trust's activities. This helps the trust in utilising its resources for the intended charitable purposes.

• Access to Government Grants and Schemes

  Registered trusts in Andaman and Nicobar have better access to various government grants. It provides subsidies, and schemes that are designed to support charitable activities. These grants can provide financial support and resources to the trust. It enables it to expand its reach and impact.

• Collaboration with Government Bodies

  Trust registration in Andaman and Nicobar allows for recognition and collaboration with government bodies. This can open doors to partnerships, joint initiatives, and participation in government-led programs. It leads to greater visibility, networking opportunities, and access to resources.

• Recognition for Fundraising

  Registered trusts in Andaman and Nicobar can seek donations, and grants. It receives support from individuals, organisations, and corporate entities.

Documents Required for Trust Registration in Andaman and Nicobar

The following documents are required for Trust registration in Andaman and Nicobar island:

• Trust deed
• Proof of identity and address proof of the settlor(s)
• Proof of identity of each trustee
• Proof of address of the trust
• Bank account details of the trust
• A copy of the PAN card of the trust.

Eligibility Criteria for Trust Registration in Andaman and Nicobar

• The trust must have a clear and genuine charitable or religious purpose
• Minimum two trustees are required, who should be individuals above 18 years of age and not disqualified under the Indian Trusts Act
• A registered office address in Andaman and Nicobar is necessary for the trust
• Memorandum of Association, Trust Deed, and affidavits from trustees are required
• The trust should obtain a Permanent Account Number (PAN) from the Income Tax Department
• The trust's activities should be non-profit and intended for the benefit of society
• The trust must comply with applicable laws and regulations governing trusts in Andaman and Nicobar and India
• The trust should not engage in any discriminatory activities based on religion or politics
• Proper financial statements and records must be maintained
• Trust income or assets cannot be distributed among the trustees or members.

Checklist for Trust Registration in Andaman and Nicobar

• Appoint a minimum of two eligible trustees
• Obtain a registered office address in Andaman and Nicobar
• Prepare Memorandum of Association, Trust Deed, and affidavits from trustees
• Obtain a Permanent Account Number (PAN) for the trust
• Ensure compliance with applicable laws and regulations
• Maintain proper financial records and statements
• Ensure non-profit nature, no religious or political discrimination, and no profit distribution to trustees or members
• Seek guidance from legal professionals or authorities for a smooth registration process.

Process for Trust Registration in Andaman and Nicobar

The online process of trust registration is as follows:

• Step 1: Consultation and Document Collection

  Get expert consultation to understand your requirements. Avail help in choosing a unique trust name and the details of the trust you want to register. Submit the required documents for registration.

• Step 2: Trust Deed Drafting

  Vakilsearch's legal experts would draft the trust deed according to your specifications. We ensure it complies with the Indian Trusts Act and relevant state laws. We will tailor the trust deed to reflect your intentions and objectives.

• Step 3: Submit the Application

  With the trust deed and documents in hand, our team will file for registration. We make sure that all the information is accurate

• Step 4: Follow-Up and Verification

  Our team will address any queries or requirements arising during the process.

• Step 5: Registration and Documentation

  Post approval you will get a registration certificate from the Sub-Registrar's office. On request, we might also assist you in obtaining a PAN and open a bank account for the trust

Why Vakilsearch?

Opting for Vakilsearch for trust registration presents a range of advantages. The platform's user-friendly interface ensures convenience and time efficiency. We enable smooth progress through the intricate process. Our team of legal experts, well-versed in India's legal landscape, offers invaluable guidance. It ensures accurate documentation and compliance with legal mandates. Additionally, Vakilsearch's customer support provides assistance and addresses queries. We contribute to a hassle-free experience.