Trusts and Societies

A trust can be registered under Indian Trust Act, 1882 and a society can be formed under the provisions of Societies Registration Act.

+ How many people are required to start a Trust?

At least two trustees are required to register a public charitable trust. However, a minimum of seven members are required for formation of a society.

+ Is there any annual filing to be done?

There is no requirement for annual filing in case of Trusts. However, societies must file annual returns with the Registrar of societies.

+ Can Trusts and societies get Income Tax Exemption?

Yes, both Trusts and societies are eligible for tax exemption provided the exemption criteria of the Income Tax Act are complied with.

We at Balakrishna and Co., have facilitated many people to set up trusts and societies in Bangalore. We have also represented at the tax department to obtain Tax exemptions.

In case you need any of these services, please write to Prasad@balakrishnaandco.com