There is a major notion among many that it is only the elite sector of the society whocan create trusts. However, that is not true! A trust can be created by not just the high –networth individuals but even by ordinary men and women.
A Trust is defined in Section 3 of the Trust Act, 1882, it’s a legally formed organisation where the owner is the Trustor & Beneficiary is the Trustee. there are some Trust Annual Compliances that should be complied time to time and avoid unnecessary penalties
(1) Auditing of Accounts.
(2) Filling the annual returns
(3) TDS Reurns and Certificates
(4) GST Return
(1) Simple Checklist
(2) Verify Documents
(3) Filling Completed
(1) Name & Address of the trust
(2) Aadhar card of the trustees.
(3) PAN card of the trust
(4) Audit report prepared by CA
(1) What is Trust annual compliance?
(2) Is audit mandatory for private trust?
(3) What are the necessary elements for constituting a trust?
(4) What are the various aspects to be decided before registration of trust?