To register a trust in Kolkata, India, you need to follow these steps:
- Choose a Name: Select a unique name for your trust. Ensure that the name you select is not similar to any existing trust names to avoid legal issues.
- Prepare Trust Deed: Prepare a trust deed outlining the objectives, aims, and rules governing the trust. The trust deed should include details such as the name of the trust, the address of the registered office, names of trustees, objectives of the trust, etc.
- Get the Trust Deed Notarized: Once the trust deed is prepared, it needs to be printed on non-judicial stamp paper. The value of the stamp paper depends on the valuation of the property mentioned in the trust deed. After printing on stamp paper, the trust deed needs to be signed by the settlor and two witnesses in front of a notary public.
- Visit the Sub-Registrar’s Office: You need to visit the local Sub-Registrar’s Office in Kolkata with the signed trust deed and necessary documents.
- Submit Documents and Pay Fees: Submit the following documents along with the trust deed at the Sub-Registrar’s Office:
- Trust deed on stamp paper
- Application form
- Identity proof of trustees
- Address proof of trustees
- Passport-sized photographs of trustees
- Payment of registration fees
- Verification and Registration: The Sub-Registrar will verify the documents and if everything is in order, they will register the trust and issue a registration certificate.
- Get the Certificate: Once the trust is registered, you will receive a registration certificate from the Sub-Registrar’s Office. This certificate serves as proof of the existence of the trust.
- Publication in Gazette: It is advisable to publish a notice of the trust’s registration in the Official Gazette to make it publicly known.
- Open Bank Account: With the registration certificate, you can now open a bank account in the name of the trust to manage its finances.
- File for Tax Exemption (if applicable): If your trust qualifies for tax exemption under Section 12A or Section 80G of the Income Tax Act, you can apply for it with the Income Tax Department.
It’s recommended to consult with a legal expert or a chartered accountant familiar with the process to ensure all legal requirements are met during the registration of your trust in Kolkata.
