A trust is not a body or an association, but a fiduciary relationship between a trustor and a trustee. The trustor gives the right to hold property or other assets to a trustee. Depending upon the nature of the trust, there can be two types of trustees, an individual or a group of people. This article highlights the benefits of trust registration in India.
A trust is a unique type of NGO that relies on the relationship between a trustor and a trustee to operate. Other than giving you a warm feeling that you get from helping others, trust registration comes with a lot of benefits. This article highlights those advantages to motivate you to form a trust of your own.
Getting land from the government
If your trust is truly set on assisting the people with a cause that the government can get behind, you get land rights. The government, in a bid to promote noteworthy ventures about social welfare, has no qualms about assigning land to trusts. While you will have to work for it – convincing the government that your cause is noteworthy – the reward is real. Read More: Maritime Approval
You can earn several tax benefits
In the case of public trust, the donations you receive will be free from most taxes. The government of India has made many exemptions to promote the registration of a trust. Therefore, there is a certain percentage of tax that you will save whenever you receive a new donation.
Benefits that come with 80G Certificate
The 80G certificate allows the donors to enjoy tax exemptions up to 50 percent of the money they have donated to a non-government organization. In simple words, if you have 80G certification, opportunistic donors looking for a way to reduce the taxes that they pay will give you a donation. Within the realm of non-profit organizations, 80G certification is considered to be its most practical benefit.
Access to a lot of White Money
With a non-profit organization, no money is black, all money is legitimate and can hold up in the court of law. If you are running a legitimate trust, you can use that money to expedite major processes without running into any red tape. It is one aspect of trust that you will learn to appreciate as time goes by.
Other benefits
There are other subliminal benefits to starting a Trust that you will only know once you get started. Each one of them is rooted in providing what’s best for the people. Furthermore, all the procedures you undertake will assist you to move ahead of the curve as compared to other Non-profit organizations.
Conclusion
What is trust? It’s a relationship where your purpose as a trustor is to earn money for the trustee. This parent-child relationship that you establish with Trust Registration helps you carry your dreams of helping people forward with a lot of vigour. It is a venture that you will rely on. However, make sure that you can utilize these benefits properly before you begin.
Why you should register a Trust? Read this article to understand trust benefits. If you need further assistance, consult with Registrationwala for more information.
