Create a account:
Public Trust in India is governed by the Indian Trust Act, 1882, except to the Trust registered in the state of Maharashtra and Gujarat as they shall be governed by the Bombay Trust Act, 1950. Trust can be formed amongst the family members or the public at large. A minimum of two members is required to form a trust and there is no such upper limit. Its geographical area of operation is always PAN India.
Trust should be ideally be set up only when a person wishes to make an endowment of his assets for perpetuity, and the trustees want the assets to be used for some charitable purpose with close control by the original trustees. Compliance involved in Trust are comparatively less as compare to Section 8 Company or Society.
During the formation of Trust, we need to present the Trust Deed before the Registrar of Trust. Trust Deed Document is the bylaws that must contain, inter-alia, the following information:
- Signed Trust Deed on a Stamp paper.
- Self Attested copies of PAN card and Address proof (Aadhar Card, Voter ID card, etc.) of Trustees.
- Two passport size photographs of each of the Trustee.
- Self Attested Aadhar Card copy of the two witnesses.
- No Objection Certificate from the landowner on a ten rupees stamp paper and on a notarized as well.
- Utility bills like the electricity bill or the water bill which is not older than two months.
- Rent Agreement.
Draft and Execute the Trust deed on a Non-Judicial stamp paper. The rate of stamp duty differs from state to state.
Seek an appointment with the Registrar office based on the jurisdiction of the Trust;
On the appointment date, the Settlor, along with the two witnesses, need to be present in the Sub-registrar’s office.
After the registrar registers the Trust, you will receive the Trust Deed within 15 days.
Apply for the PAN card, TAN number, and open a current bank account.
Yes, foreign members and artificial members can be the members of the Trust. Even the trust itself can be a member of the trust.
The name of the trust should be Unique and shouldn’t be registered under the law before.
Yes, Settlor along with two (2) witnesses needs to be physically present during the formation of the trust.
Anyone can be a witness. You can even choose your relatives to be witness to the Trust.
You need to apply for the change of members of the trust with an application along with minutes of the relevant meeting to the Sub Registrar’s office.
You need to apply for the change of the address of the Trust with an application to the sub registrar’s office.
Yes, you can convert a Trust into a Section 8 Company in the future.
Startupfino is working with Startups since last 10 years with an unparalleled experience of helping fast growing startups. Our Success can be witnessed through the numbers given below.
Startupfino is managing my accounts and its such a relaxed and smooth journey so far , I dont have to worry about timely execution of the work . They manage my invoicing, finances and compliances in a efficient way. I wish karan and team all the very best for the future of this startup .
Startupfino provided Shadowfax with an end to end support in managing compliance and accounts during our early stage and helped us transition to a full fledged finance team post our multiple Venture rounds of Capital. Highly recommended for first time founders who are looking for on-the-call solutions for specialized accounting, taxation and statutory compliances.
I have been working with Startupfino on a couple of our portfolio companies. I have found this team highly responsive and they truly understand issues faced by startups. I would highly recommend them to startups for their accounting and compliance needs.
I have been working with Karan and team with a long time now. Karan’s thought of clarity is remarkable. He is very easily able to distill the problem and provide a solution which suits everyone needs. Would highly recommend others to explore services provided by Karan and his team at Startupfino.
Team FINO has been there with us since we began our journey 5 years back..the reason for our long lasting relationship was the trust that the Fino team members reciprocated. Compliance of both our USA and India entity are handled by them. I’d highly recommend StartUpfino to early stage startups”
Startupfino team are one of the most friendly people to work. They have a deep understanding of the business and help us with all our financial work without any hassles. Add to that a fast turnaround time for any task- they are one of the best start up accounting firms in the market!
I have been working with Startupfino for last 5 years and I really like the way they works. Startupfino helps Truelancer from its very beginning for all of its financial and legal aspects and turnaround the things quickly. This firm is a truly a Startup Founder friendly.
We have been working with Karan and Startupfino for a long time now. The entire DNA of the firm is tuned perfectly for startups. The support which you get from them at the time of crisis really differentiates them from everyone else in the market. Karan is a master of his domain.Highly recommended from our side
The very foundation of a Startupfino is laid down by the founding member of it. Mr. Karan is a great person and getting to know that he is floating his own startup got me really excited. I really love the services offered by StartupFino and now getting these services through a more efficient and controlled platform is going to be truly amazing.
Startupfino team has an unparalleled experience in helping fast growing startups right from their inception to later stage rounds. Startupfino helped Leegality for all the financial and legal matters. Highly recommended and all the best!
We worked with Deepak from StartupFino and the experience has been fantastic. They have good knowledge about Tax compliance and Labour law compliance.This firm is highly recommended for Startup world
We have been working Karan and Startupfino team for almost 5 years now. In any startup legal and financial work takes huge time and the way Karan takes the ownership of the work, as a founder you are able to save lot of time and be tension free. Highly recommended.