Trusts And Societies
A Trust can be registered under the Indian Trusts Act, 1882, and a Society can be formed under the provisions of the Societies Registration Act.
Frequently Asked Questions (FAQs):
How many people are required to start a Trust?
- At least two trustees are required to register a public charitable trust.
- A minimum of seven members are required for the formation of a society.
Is there any annual filing requirement?
- Trusts: There is no requirement for annual filing.
- Societies: Must file annual returns with the Registrar of Societies.
Can Trusts and Societies get Income Tax Exemption?
Yes, both Trusts and Societies are eligible for tax exemption, provided they comply with the exemption criteria under the Income Tax Act.
Our Services
We at VPS and Associates have assisted many individuals and organizations in setting up Trusts and Societies in Hyderabad. We also represent clients before the tax department to obtain tax exemptions.
