WebTrusts Act gives the settlor, trustee and beneficiary wide powers for establishing and managing the affairs of the trust, subject to the limitations of the same being for a lawful purpose and not in contravention with provisions of any laws of India. WebJan 22, 2024 · Beneficiaries and trustees. India does not recognize trust as a separate entity (except for tax purposes). A trust is identified as a legal obligation that is attached to the ownership of property arising out of a confidence placed by the settlor in the trustee for the benefit of the beneficiaries (as identified by the settlor), or the beneficiaries and the …
Regulation of Trusts and NGOs in India: An Overview
WebDec 19, 2024 · Trusts in India are governed under the provisions of the Indian Trusts Act, 1882 (the "1882 Act"). Home. ... Discretionary Trust – A type of a trust wherein the share … WebJun 16, 2024 · There can be more than one settlor to a Trust. Trustee: The trustee is responsible for all compliance and administrative responsibilities and takes care of all fiduciary responsibilities. The trustee owes a duty … dr dorina pojani
Trust - Profsindia – CA. Rahul Gupta
WebSep 6, 2024 · Under Indian Trust Act, a settlor can create a trust with his or her own personal property and can officially appoint one or more trustees and lay down the terms and conditions benefiting the identified beneficiary or beneficiaries including one’s spouse, own child, relative or any other individual or group of individuals. WebDec 9, 2024 · Can a Person be a Settlor as well as a Trustee? Yes, a Settlor can also serve as a trustee of a trust. In some forms of trust, the settlor could also serve as the … WebMar 21, 2011 · can Settlor/Author of Trust can also be nominated in List of Trustees, because my Client wants to Form Trust with Two Person only one he himself as Founder and other is his Wife as Trustee so can he also become one of Trustee with his wife Thanks in anticipation Bhaskaran Chackrapani Warrier (Expert) Follow dr dorian jimenez podiatrist