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“Trust” is defined as an obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the owner or declared and accepted by him for the benefit of another, or of another and the owner.
The Charitable Trust is also an independent legal entity. In general trustees and settlers are not personally liable for the Charitable Trust’s acts. However they are liable in their respective official capacity. The Charitable Trust is mainly a transfer of property deed for charitable purposes in favor of mentioned beneficiaries.
Registration of trust deed Registration is to be made as per the provisions of the Registration Act, 1908. It may be noted that the trust deed and not the trust is registered. The deed has to be registered with the Sub-Registrar of the registration department of the respective State Governments.
A society is an organisation of several people who come together to deliberate, govern, and act cooperatively for a common goal. Societies are usually registered for the advancement of charitable activities like sports, music, culture, religion, art, education, etc.
Well, you can register an NGO or NPO as a society with a charitable purpose. Such purposes may include the advancement of literature, the fine arts, science, or the distribution of awareness for bountiful purposes. The Society Registration Act, 1860, has been accepted by several state governments without or with further amendments.
The registration of a society in India is governed by the Societies Registration Act, 1860, which aims at legalising and bringing uniformity to the way such societies are governed. The Act has been adopted by all Indian states, many of which have amended the original Act.
80G and 12A registration are two separate tax exemptions offered by the Indian Income Tax Act. 80G registration allows registered non-profit organizations to receive tax-deductible donations from individuals and organizations. 12A registration allows non-profit organizations to receive income tax exemption on their income generated from their charitable activities.
80G registration allows donors to claim a tax deduction of 50-100% on their donations, depending on the nature of the non-profit organization and the type of donation. To be eligible for 80G registration, the non-profit organization must be registered under the Indian Income Tax Act and must carry out activities that are approved by the government for tax-deductible donations.
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