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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.
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.
Yes, both Trusts and societies are eligible for tax exemption provided the exemption criteria of the Income Tax Act are complied with.
We at S.V.Bhat & Co., have facilitated people to set up trusts and societies in Mumbai. We have also represented at the tax department to obtain Tax exemptions.
In case you need any of these services, please write to [email protected]