Trust

trust

Trust

Trust in the normal course is referred to as the confidence which one person reposes in another person to whom he transfers the property with an obligation that the funds so generated therefrom shall be utilised for the charitable and religious purposes.

A Trust can either be a private trust or a public charitable trust. Private trusts are governed by the Indian Trusts Act (1882) and are used for private purposes, such as running a private estate or institution. Privates trusts are not given any tax benefits by the Government of India. If you want to do some charitable work for public –you can set up a public charitable trust. India does not have a national level law to govern charitable trusts. However, a few of the states have enacted Public Charitable Trusts Act (Like Bombay Public Trusts Act, 1950).

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