CHAPTER 13- TRUST AND SOCIETIES

PART A- TRUST ACTS

Introduction to Trusts: The provisions of the Indian Trust Act, 1882 (referred to as “The Act” in this
article) governs only private trusts. The Indian Trusts Amendment Bill of 2015 amended the Act and
removed some restrictions on investment of the monetary assets by the trust in certain investments.
But at the same time, it enabled the government to scrutinise the trusts' investments at will.
Public Trusts are usually governed by state-specific legislation. Eg: The Maharashtra Public Trust Act,
1950. The Indian Trust Act extends to the whole of India except the Andaman and Nicobar Islands.
Further, this act is not applicable to the Waqf, religious or charitable endowments, Hindu Undivided
Family, etc.
Practical Application areas:
For Following reason the trusts are beneficial:
 Trust assets get transferred to the trust so the family or corporate property remains safe under
the trust.
 Trusts may be used to own specific assets, such as land or an interest in a family company, which
would not be appropriate or practical for a settler to divide between individuals. The use of a trust
enables such individuals to enjoy the assets despite the fact that they do not own them.
 As legal title of the assets passes from the settlor to the Trustee when they are ‘settled’, there is
subsequently no change of ownership when the settlor dies, thus avoiding the need for probate
of a will in respect of trust assets. Grants of probate are a matter of public record, whereas a trust
is a private arrangement which does not have to be registered anywhere.
 A discretionary trust created inter-vivos – literally ‘during one’s lifetime’ – usually allows a settlor
to provide the trustees with guidance in respect of the way in which the trust assets are to be
managed during his lifetime and dealt with or distributed after his death.
 A trust may also be used to hold property for those who cannot hold it for themselves, such as
minors or persons declared bankrupt. It may be used to keep the beneficial ownership of property
confidential.
 For regulating the affairs of a provident fund, superannuation fund or gratuity fund or any other
fund constituted by a person for the welfare of its employees.
 Discharge of the Charitable an/or religious sentiments of the Author, in a way that ensures public
benefit.
 For claiming exemption from Income Tax, as the case may be, in respect of incomes applied to
charitable or religious purposes.
 If you don’t trust your beneficiaries to directly own the assets you want them to have (perhaps
because they are minors or spendthrifts), you can distribute assets to them over time through a
trust.
 Indian trusts are being used as tools to bring a relatively large pool of assets/ investments under
one umbrella, which has more scope to perform well than a series of smaller pools.

Important Concepts in Trust:

Let’s understand what is trust with the help of an example
Mr X wants to pass his bungalow (property) to Mr Y for the benefit of his minor granddaughter. Mr X
passes his property to Y, because he reposes(has) confidence on Y. This is nothing but the essence of
a trust.
In simple words, a trust is nothing but transfer of property by the owner (Mr X) to another person on
whom the owner has confidence (Mr Y) for the benefit of a third person (Granddaughter of X).
Property doesn’t just mean real estate. It could be cash, shares or any other valuable asset.
Further, the instrument by which this entire trust is declared/created is called “the instrument of
trust” or the “trust deed”.
A. Parties in a Trust:
1. Author/Settlor/Trustor/Donor (Mr X): The person who wants to transfer his property and
reposes confidence on another for the creation of the trust.
2. Trustee (Mr Y): The person who accepts the confidence for the creation of the trust
3. Beneficiary (Mr X’s granddaughter): The person who will benefit from the trust in the near future.
Who can create a Trust?
A trust may be created by:
1. Every person who is competent to contracts: This includes an individual, AOP, HUF, company etc
2. If a trust is to be created on or behalf of a minor, then the permission of a Principal Civil Court of
original jurisdiction is required.
Further, it also depends on the law in force that is prevailing at that particular point of time and the
extent to which the author of the trust may intend to dispose of his property.
B. Types of trusts:
1. Private Trusts: A private trust is for a closed group. In other words, the beneficiaries can be
identified. Eg: A trust created for the relatives and friends of the author.
The benefits of having a private trust are enumerated below:
1. better and efficient control of assets;
2. planning for the family needs present and future;
3. better succession planning;
4. Better tax planning in the event of inheritance tax being reintroduced;
5. Precautionary exercise to avoid attachment of assets in the event of any liquidation/insolvency
threat etc.
6. A trust holding shares of family business prevents/restricts disintegration as there is no scope
for the individual family members to transfer/dilute the shareholding of the family business
7. A Private Trust which is created or declared during the lifetime of the trustor needs to be
registered under the provisions of the Registration Act, 1908, provided the trust property is
immovable. There is no requirement under law to register a Private Trust created through the
will of a deceased person.

2. Public Trusts: A public trust is created for a large group ie. the public in large. Eg: Non-
Profit NGO’s Charitable Institutions for the general public.
The benefits of creating a public trust:
Public Trusts are generally, formed or created to fulfill any or more of the following Objectives:-
1. for setting up a school, colleges, other educational initiatives, hospital, old age homes,
orphanage, for promotion of child health and their empowerment, welfare of weaker sections
of society, and for fulfillment of Corporate Social Responsibilities (CSR) by companies under
section 135 of the Companies Act, 2013.
2. For claiming exemption from Income tax U/s 10 or 11, as the case may be, in respect of incomes
applied to charitable or religious purposes;
12A and 80G Certificates
A Trust or an NGO can acquire 12A certificate from the Income Tax Department. Thus, a Trust
acquiring such a certificate is exempted to pay income tax for the entire lifetime on its surplus
income.
Also, an NGO must obtain an 80G certificate. This certificate allows donors, that is persons or
organizations making donations to an 80G certified NGO, to avail deduction. Thus, such a
deduction is given to the donors under section 80G of the Income Tax Act
 3. For the proper management and preservation of a property;
4. For regulating the affairs of a provident fund,superannuation fund or gratuity fund or any
other fund constituted by a person for the welfare of its employees;
3. Public-cum-Private Trusts: There may be certain trusts whose part of the income may be
applied for public purposes and a part may go to a private person or persons, such trusts are
known as Public cum Private Trusts. Such trusts, in respect of the portion of the income going to
private person or persons are assessable as private trusts and in respect of that portion of the
income which is applied for public purposes, they shall be eligible for exemption under section 11
provided these trust are created before the commencement of Income-tax Act, 1961 i.e. before
1-4-1962. Public-cum-private created on or after 1-4-1963 shall not be eligible for exemption u/s
11.

C. Beneficiary Related concepts:

Rights of a beneficiary:
The beneficiary has the right to:
1. Enjoy the rents and profits of the trust property.
2. Expect the trustee to transfer the trust property to one or more beneficiaries.
3. Inspect and take copies of the instrument of trust, the documents relating to trust property and the
accounts of the trust property.
4. If for any reason the execution of the trust by the trustee becomes impracticable the beneficiary
may institute a suit for the execution of the trust.
5. To expect the trustee to properly protect and administer the trust property.
6. To compel the trustee to perform his duty properly.
7. To transfer the benefits arising out of the trust to any other person after the beneficiary attains
majority.

Liabilities of a Beneficiary
1. duty of the beneficiary to compensate or reimburse the trustee in case there are any damages
caused either to the trustee or to the trust, due to the beneficiary.
2. liable for all losses/damages if he commits a breach of trust.
3. liable for any harm caused to another party within the trust that is due to him or his
behaviour/etc.
4. Liability not to obtain any advantage without the consent of other beneficiaries
5. beneficiary should not claim more than his interest in the trust property.
6. to become fully aware and proceed against any party, if a breach of trust is found by the
beneficiary.
7. The beneficiary will be held liable if in case, it is found that he has deceived the trustee in any way
or induced him to commit a breach of trust.
8. The beneficiary will be held liable in case he fails to take reasonable steps and actions, as
mentioned in the trust deed, within the rights and duties of other beneficiaries.

D. Trustee Related concepts:

Rights and powers:

In order to comply with its duties a trustee has a number of rights and powers, including:
 such powers as set out in the trust deed;
 to sell trust property;
 to apply to the court for directions on how to act in particular trust matters;
 to discharge liabilities and debts using trust funds;
 to be indemnified out of the assets of the trust and seek reimbursement for expenses incurred in
managing the trust property.

Trustee duties
The trustee of a trust has the following duties:
 to act in the best interests of the beneficiaries of the trust
 to act in an even-handed manner between beneficiaries and between groups of beneficiaries
 not to use knowledge or influence gained as a result of being a trustee to advance the trustee’s
own position (except when the trustee discloses his or her personal interest to the settler of the
trust and obtains # the settler’s informed consent)
 to act personally rather than delegating decisions to others (except if the trust document explicitly
permits delegation)
 to act honestly and with the level of skill and care that would be expected of the reasonable
businessperson in administering the affairs of others
 to be thoroughly familiar with the terms of the trust in the trust deed (the main trust document),
and with who the possible beneficiaries may be and what the assets and liabilities of the trust.

E. Procedure of creation of both kinds of Trusts-

Offline Procedure-
1. All societies registered under the S.R. Act, 1860 are converted into public trust under M.P.T.Act,
1950 after necessary inquiry and following the procedure under a M.P.T. Rules, 1951. So , Firstly
you have to make an application for registration of a society with the assistant charity
commissioner of Pune whose office is at Dhole Patil Road, near Wadia College, Sangamwadi.
2. The application should be submitted together with memorandum of association and rules and
regulations; consent letters of all the members of the managing committee; authority letter duly
signed by all the members of the managing committee; an affidavit sworn by the president or
secretary of the society on non-judicial stamp paper of Rs. 10/-, together with a court fee stamp;
a declaration by the members of the managing committee
3. Then Choose an appropriate name for your trust. Determine the settler/ Author and trustees of
the intended trust. Prepare Memorandum of Association and Rules & Regulations of your trust.
This is known as Trust Deed.
4. Then the application for registration of a public charitable trust should be submitted to the
deputy/assistant Charity Commissioner of Pune whose office is at Dhole Patil Road, near Wadia
College, Sangamwadi.
5. After providing details (in the form) regarding designation by which the public trust shall be
known, names of trustees, mode of succession, etc., the applicant has to affix a court fee stamp
of Rs. 2/- to the form and pay in cash, registration fee that may range from Rs. 3/- to Rs. 25/-,
depending on the value of the trust property. If the value of the trust property does not exceed
Rs. 2,000/-, the registration fee levied is Rs3/-. If the value exceeds Rs. 25,000/- it is Rs. 25/-
6. The application form should be signed by the applicant before the regional officer or
superintendent of the regional office of the charity commissioner or a notary. The application
form should be submitted, together with a copy of the trust deed
7. The trust deed must be executed on non-judicial stamp paper, the value of which would depend
on the valuation of the trust property. Rule is every rupees five hundred or part thereof the stamp
duty is "rupees twenty”. Example- If one decides to start a trust with a token amount of Rs. 1,000/-
, the trust deed should be executed on a non-judicial stamp paper of Rs. 40/-.
8. Two other documents which should be submitted at the time of making an application for
registration is - • Affidavit which must be sworn (by the trustees making the application) before
a notary and executed on non-judicial stamp paper of Rs. 10/- • Consent letter, which may
be prepared on an ordinary sheet of paper and signed by the trustee/s other than the trustee
making the application.
9. Processing the application usually takes about six to eight weeks.
10. A notice informing the applicant about the day and time fixed for a formal hearing is dispatched
usually 10 to 15 days in advance. The applicant generally has to appear in person or depute his /
her lawyer. The original trust deed should be produced for verification at the time of the hearing.
11. After making proper inquiries, the deputy/assistant charity commissioner makes entries in the
register and issues a certificate of registration which bears the official seal and registration number
of the trust.

Online Procedure:
1. Choose an appropriate name for your trust.
2. Determine the settler/ Author and trustees of the intended trust.
3. Prepare Memorandum of Association and Rules & Regulations of your trust. This is known as Trust
Deed. Scan it.
4. Collect all the scanned copies of the required documents like Identity proof such as Voter ID,
Driving License, Aadhaar Card, Passport, Passport size photographs of all the parties of the Trust
Deed, Aadhaar Card of each party of the Trust, PAN Card of each party of the Trust, Proof of the
registered office address, such as an electricity or water bill.
5. Also keep the scanned copies of the following documents ready- Covering Letter , Memorandum
of Association, Rules and Regulations , Consent letter of all members, Authority Letter, Affidavit,
Resolution,No objection certificate of office address.
6. Visit the charity organization website- www.charity.maharashtra.gov.in
7. Now click on “New User Registration”.
8. Fill every necessary information in the boxes displayed on the screen for New User Registration.
In this way, fill up the form properly and also create your own username and password
9. Lastly click on the option ‘Register’
10. After New user registration go to ‘Login’
11. click on “Register A Society”.
12. Fill every necessary information in the form.
13. After filling information, click on “SAVE”.
14. Upload following documents
15. Click on the “submit” button.
16. On successful submission, SRN will get generated.
17. Pay the application fees online (If online payment mode selected).
18. Processing the application usually takes about six to eight weeks.
19. After online submission of application, Applicant or his Representative or his Advocate should
remain present within 30 days from the date of submission with all original documents and
contact Superintendent, Society Registration and if the applicant have selected offline payment
mode then has to pay the Society Registration fees of Rs.50/- and also the Trust Registration fee
as per the property of the trust in the office.
20. The applicant generally has to appear in person or depute his / her lawyer. The original trust deed
should be produced for verification at the time of the hearing.
21. After making proper inquiries, the deputy/assistant charity commissioner makes entries in the
register and issues a certificate of registration which bears the official seal and registration number
of the trust.

Things to do after registration: Apply for -

PAN: For the Trustee to pay tax on behalf of the Beneficiary(ies), it is required to apply for a Permanent
Account Number (PAN). The application can be made online using the link-
https://www.incometaxindia.gov.in/Pages/tax-services/apply-for-pan.aspx
TAN: If the Trust needs to deduct tax at source for its employees or other staff engaged to manage or
administer Trust Property, then it needs to apply for Tax deduction Account Number (TAN) before the
Assessing Officer, which can obtained online using the link- https://tin.tin.nsdl.com/tan/form49B.html
FCRA Registration: Every Trust needs to apply for registration under Section 6(1), Foreign Contribution
(Regulation) Act, 2010 (“FCRA”), if it is desirous of accepting donations from foreign sources. The
application can be made online using the link-
https://fcraonline.nic.in/fc_public_login.aspx?Resp_Id=1
Separate account for Foreign Contributions (FC A/c): If the Trust wants to receive foreign donations
and is registered under FCRA, it needs to open a separate account for this specific purpose.
Separate set of records for foreign contributions: Every organisation/individual needs to maintain a
separate set of records exclusively for the receipt and utilization of foreign donations/contributions.
Approval from RBI: In case where the beneficiary is a non resident, prior approval from RBI is required
to that effect.
TIN Registration: If a Private Trust deals with the trading and manufacturing of goods and services,
even when the motive is not to earn profit, it needs to apply for Taxpayer Identification Number (TIN)
before the Excise and Taxation Department of its respective State.
GST Registration: If required. Link- https://reg.gst.gov.in/registration/
After formation of the Private Trust, it needs to comply with the following under various laws like The
Indian Trusts Act,1882, The Income Tax Act, 1961, FCRA, Central Sales Tax Act, etc. and various State
legislations.

F. Compliances for a Private Trust:

After formation of the Private Trust, it needs to comply with the following under various laws like The
Indian Trusts Act,1882, The Income Tax Act, 1961, FCRA, Central Sales Tax Act, etc. and various State
legislation:
1. Compulsory Audit of Accounts
When the total income of a Private Trust exceeds the limit given under the Income Tax Act, 1961 for
non-taxable income (Rs. 1,50,000 for FY 2016-17), it should be compulsorily audited by a Chartered
Accountant.

2. Annual Return of Income to be filed in Form ITR-7 on or before October 31st of the
assessment year

3. Report of Foreign Contributions

Every Trust which receives foreign contributions needs to submit a report, duly certified by a
Chartered Accountant and accompanied by an Income and Expenditure Statement, Receipts and
Payments Account and Balance Sheet within 9 months of the closure of the financial year, to the
Secretary, Ministry of Home Affairs, Government of India, New Delhi. A ‘Nil’ Report needs to be
submitted if no such contribution is received during the last financial year.

4. Issue of Certificate of TDS

Where any Private Trust is deducting tax at source for payment of salaries to the staff or employees
(kept for managing the Trust Property), it needs to furnish certificates of TDS to the persons on whose
behalf TDS was being collected. It should be done within 1 month from the date of closure of the
financial year.
6. Publication of Accounts in newspaper
Where annual income or receipts of the Trust (generated from the Trust Property) exceeds Rs.
1,00,00,000 (INR One Crore).

7. Trusts with turnover above the threshold limit of Rs. 40 Lakhs has to Register for GST. If the trust is
having more than Rs.5 crore as annual aggregate turnover has to file two monthly returns and one
annual return.

G. Taxation of Private Trust:

Unlike the Public Trusts, a Private Trust is not granted any exemptions under the Income Tax Act, 1961,
though the trustee is liable to file an annual tax return as per the provisions of the said Act.
Approved retirement trusts are exempt from tax.

From the purpose of income tax, private trusts can be categorized into two types.
Note 1:
 Exception: In the following case, individuals tax rates are applicable when:
o Trust is exclusively for the benefit of a dependent relative
o It is the only trust declared by the author

Note 2:
 Exception: In the following case, individuals tax rates are applicable when:
o None of the beneficiaries’ income exceed the basic exemption limit
o Beneficiaries’ are not a beneficiary under any other trust

H. Compliances for public trust:

Under The Maharashtra Public Trusts Act, the proposed name of trust, name of trustees and their
addresses, mode of succession to trusteeship, objects of trust, documents creating the trust, details
of properties, sources of income of trusts, average gross annual income and expenditure,
communication address of trustee, consent letter of trustees have to be made to Regional Deputy or
Assistant Charity Commissioner within three months of creation of trust. Memorandum containing
details of immovable properties to be filed with the Jurisdictional sub registrar under Indian
registration act.

Details about any changes shall be informed to the charity commissioner within 90 days of such
change in schedule IIIA where it relates to change in immovable property and in schedule III in all other
cases.

Application for registration of a trust created by will- Within 1 month of granting

of probate/within 6 months of Testator's death whichever is earlier.

The Public Charitable Trusts in Maharashtra are required to see prior permissions of Charity
Commissioner in case of:
 Further investment in immovable property,
 Sale, exchange, lease, gift for a period exceeding 3 years in case of non-agricultural land and 10
years for agricultural land.
 Lending money to any trustee.
 Borrowing of moneys (whether by way of mortgage or otherwise)

Trusts are required to pay contributions at the rate 2% of gross annual income after deductions to
public trust administration funds. Under the MPT Act, public trust having gross annual income of Rs.
25000 or less, those working exclusively for advancement/propagation of secular education/medical
relief /veterinary treatment, recognized public libraries, trusts exclusively working towards relief of
distress caused by natural calamity are exempted from making contribution to public trust
administration fund.

Public Trust which has an annual income exceeding ₹ 5000/- for public religious trust and ₹ 10,000/- in other
cases, shall at least one month before the commencement of each accounting year, prepare a budget in the
form of Schedule VII-A showing the probable receipts and disbursements of the trust and submit them to the
office of the Charity Commissioner.

Accounts are required to be maintained in schedule VII, income and expenditure account in schedule
IX.
accounts are to be maintained since the inception of the trust.

It is mandatory for trusts to get their accounts audited within 6 months of the close of the accounting
year and submit the same with the charity commissioner within a fortnight of the audit if their annual
income exceeds rupees 15,000. Trusts exempt from audit are required to file details of income in
schedule IX-A and details of expenditure in schedule IX-B within three months of close of the
accounting year.
Requirements for Public Charitable Trusts as per the Income Tax Act, 1961

Under Income Tax Act-

Newly established trusts and institutions applying to income tax for registration for
the very first time will be given provisional registration for three years.Thereafter,
application for renewal or rather registration (instead of provisional registration)
can to be submitted at least six months prior to the expiry of validity period of
the provisional registration and registration so granted shall be valid for five
years.
Under the income tax act 1961, Application under section 12A (exemption of income), in form 10 to
be made to the principal commissioner or commissioner along with original certified copy of trust
deed, two copies of accounts of trust (max. 3 years immediately preceding the year in which
application is made) if it has been in existence during any year prior to year of making the application,
who shall pass the order within 6 months from end of month in which application is made.
An application in triplicate for registration in 80G (Deduction in respect of donations) to be made in
form 10G along with copy of registration granted under 12A, note on activities of trust, copy of
accounts during last three years to be made to commissioner who shall within 6 months accept and
grant a certificate or reject after an giving an opportunity to be heard.

Points to be considered when making an application:

 There should be legally existent entities, which can be registered.
 Written instrument of its creation is mandatory.
 Objects should be charitable in nature.
 All its properties, income and assets should be utilized towards the object only.
 Members, directors, founders are not authorized to claim any part of its income.
 All the net assets should be used to meet all his liabilities and would not be utilized by its founders,
in case of dissolution.
Trusts and Institutions formed for promotion of scientific research, education, sports, certain
professions, khadi and village industries or hospitals or notified charitable institutions are entitled for
exemption from tax under Section 10 of Income Tax Act, 1961.

Charitable trusts and intuitions have to decide whether to apply for either the
registration u/s 10(23C) or 12AA, but not both.

anonymous donations to charitable trusts and institutions will be taxed. However, anonymous donations to
religious trusts and institutions will not be taxed. Anonymous donations to trusts and institutions having both
religious and charitable objects will not taxed as long as they are given for religious purpose.

Requirements for Public Charitable Trusts as per the Foreign Contribution Regulation Act, 2010

Application in Form FC-3 to be filed to foreigners division of ministry of home affairs online and in hard
copy within 30 days with copy of registration, copy of PAN, copies of audited statements, details of
activities for last three years and the prescribed fees. The registration certificate is granted within 90
days from date of receipt of application if all the specified conditions are met.
If the certificate or permission is not granted it has to be communicated to the applicant. Application
for prior permission should be seeked for receiving a specific amount, specific purpose and from a
specific donor. The application is required to be made online in Form FC-4, Duly signed hard copy with
certified copy of trust deed, commitment letter from foreign donor specifying the amount of
contribution, copy of PAN, copy of project report for which FC is granted and prescribed fees of
Rs.1,000. The registration stands valid for 5 years and has to be renewed by making an application in
Form FC-5.

Certain Requirements regarding receipt of funds as FC like,

 Only to be deposited only in designated FC bank accounts.
 Records of all FC to be maintained with the name of donors, locations and purposes.
 FC received can only be treated as corpus donation only if supported by written consent of the
donor.

Requirements regarding utilization of Funds

 Utilized for the purpose it has been received.
 Not more than 50% of received amounts be utilized for administrative expenses, except for the
prior approval of the central government.
 All assets purchased should be in the name of association.
 FC received cannot be invested in speculative business.
 Interest earned on FC should also be used towards its objective.
FCRA lays down restrictions on fund transfer

 FC received cannot be transferred to any person with no registration or prior permission.

 Only 10% of total FC can be transferred to any person who has not obtained registration only after
prior approval of the central government. Such approval is not required if payment is made to
self-help groups or if FC receives financial assistance as charity.
Associations are required to maintain separate books of accounts for the FC received and utilized, all
such statements shall be preserved at least for a period of 6 years. Registers of investments are
mandatorily required to be maintained and audited. Accounts should be such that it becomes easy to
differentiate between local funds and FC. Associations receiving FC in excess of Rs. One Crore in a
financial year is required to place a summary data in public domain.
Public charitable trusts should submit an annual report in Form FC-6 along with audited statement of
accounts and solvency, duly certified by a chartered accountant, accompanied with duly certified
statement of FC account from bank. Filing of this report is a must.

I. Transfer of trust property by the beneficiary:

 The beneficiary can (where there is one beneficiary or if there are several beneficiaries and all of
them agree) direct the trustee to transfer the trust property to him (if there are several
beneficiaries to all of them) or to such other person as the beneficiary (or the beneficiaries may
desire).
 A beneficiary can also transfer his interest in the trust property and every person to whom a
beneficiary transfers his interest acquires the rights and liabilities of the beneficiary at the date of
the transfer. But such a transfer can be sought or made by the beneficiary (or the beneficiaries as
the case may be) only if they are of the age of majority with sound mind and are not disqualified
by any law for the time being in force in India.
 In case the beneficiary is a married woman and the trust property has been bequeathed to her via
the trust to ensure that she would not deprive herself of her beneficial interest the trust property
cannot be transferred at her instance as aforesaid.
 Stamp duty is levied on the instrument of transfer and hence, location or state of transfer assumes
importance.It is to be noted that gift of assets to relative (defined) attracts a very nominal stamp
duty irrespective of value of assets transferred e.g. Stamp duty on immovable property being
transferred in State of Maharashtra is 5% of value of the property. However, if the same property
is gifted to a relative, the stamp duty is Rs.200.

Penalties under the act: Failure to comply with any provision under the act- Rs. 10,000/-

Project: Study & Write all the important provisions & related penalties of the Indian Trust act which are
related to your daily life

Technology: Visit to the site- https://charity.maharashtra.gov.in/en-us/

Activity: Find information of any 5 trusts of your choice.

Link- https://charity.maharashtra.gov.in:8060/knowyourtrust.aspx

Project: Prepare two flowchart showing the Process of registration of Trust (Both Online & Offline)