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The Act defines how the author of the trust could create a trust and assign trustees and assign his monetary assets to be controlled by the trust. This trust should have a clear definition of the following: [3] [1] Intention by the author to create the trust; Purpose of the trust; The beneficiary of the monetary assets controlled by the trust
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 a very nominal registration fee which may range from Rs.3/- to Rs.25/-, depending on the value of the trust property. The ...
Some of the states in India have enacted the Public Charitable Trust Act, while most states in India do not have a trust Act. An NGO can be created only under a public trust Act. Madhya Pradesh and Rajasthan have independent state-level public trust Acts. States like West Bengal, Jharkhand and Bihar do not have any Act to register a public trust.
The Hindu Religious and Charitable Endowments Department of the Government of Tamil Nadu manages and controls the temple administration within the state. The Tamil Nadu Hindu Religious and Charitable Endowments Act XXII of 1959 controls 36,425 temples, 56 mathas or religious orders (and 47 temples belonging to mathas), 1,721 specific endowments and 189 trusts.
The Central Waqf Council is a statutory body under the administrative control of the Ministry of Minority Affairs was set up in 1964 as per the provision given in the Waqf Act, 1954 as Advisory Body to the Central Government on matters concerning the working of the Waqf Boards and the due administration of Auqaf.
A society is legally registered under the Societies Registration Act, 1860. The Indian Societies Registration Act of 1860 was enacted under the British Raj in India, but is largely still in force in India today. It provides for the registration of literary, scientific and charitable societies.
(Reuters) -Rupert Murdoch has lost a bid to change his family trust to consolidate control of his media empire in the hands of his son Lachlan, the New York Times reported on Monday, citing a ...
A Section 664 trust makes payments either of a fixed amount (charitable remainder annuity trust) or a percentage of trust principal (charitable remainder unitrust), [15] to either the donor or another named beneficiary. If the trust qualifies under the IRS code, the donor may claim a charitable income tax deduction for their donation to the trust.