Trust Registration and Compliances
Trust Registration and Compliances
It is mandatory for a trust to get the registration under section 12AB of the Income-tax Act, 1961 so as to claim exemption under Section 11.
The TRS is an online system by which trustees (administrators of the trust) can register in respect of the beneficial ownership of trusts. It was introduced to satisfy the requirements of The Fourth and The Fifth Money Laundering Directives (4MLD and 5MLD).There are three types of trusts in India-Public Trust. Private Trust. Public Cum-Private Trust.100 is the registration fee and Rs. 1000 are the charges of keeping a copy of the Trust Deed with a sub–registrar.
