What is a Private Trust or Family Trust?

What is a Private Trust or Family Trust?
Queries are welcome at the email address: [e-mail]
For Further Queries and in Person discussions, please write to-
Suresh Wadhwa, LL.B., FCA
Office Tele: [phone] | 87006-04006 | Email: [e-mail]
Office No: C-307, Noida One Building, Plot No. B-8
Paramhansa Yogananda Marg, Sector 62, Noida, 201309, UP

[@thelostboyi428]

Patiently explained. Really good

[@Rajan......0007]

wonderful teaching

[@santumondal2251]

How to save son from giving alimony to his divorced wife through family trustee?

[@suryakant8184]

Thank you so much...

[@RR-fe8yt]

Thank you 🙏🏽

[@bharatnanavati7271]

I have lots of mutual funds, shares, property on different names like me, and my three daughters. I am always worries about my daughters that after my death my property will be become my son in law and if my daughters get diverse in esteem condition then what will be happened to my daughter she will be on road. So can i prepared private trust to safeguard my daughters. Further mutual funds and property in my daughters name can transfer by gifting to the trust. Please reply me

[@TaxBulls]

Yes, based upon facts narrated by you, you should certainly think about setting up a Private Trust or a HUF separately. Please drop me an email at [e-mail]

[@ameyapathak2008]

What is the more tax efficient for family ..not for succession planning

[@TaxBulls]

then, HUF

[@anirudhkumar]

1. Can I get LAP from bank if the property is in the name of private trust? 2. Do I have to pay property registration chargess(stamp duty etc) if I transfer property from my name to the private trust I create?

[@TaxBulls]

Answer No.1: The Question should preferably be posed before the Banks who will be the better authority to guide. Answer No.-2: Yes!

[@rajeshdiwakar2745]

What is the minimum value of assets to creat a private trust . How the taxation rules the private trust when the trustee is alive or otherwise.

[@TaxBulls]

You can create a Private Trust with an Initial Corpus of Rs. 1,000/- as well. You need to refer to Section 160-164 of the Income Tax Act as the subject is very detailed.

[@vcsmvivekbani2255]

Can we donat our society ( including all property )to any trust ( famely or public )

[@rucha1814]

So taxability will be similar to AOP?

[@TaxBulls]

It depends and is subject to the Income of the Members of Private Trusts. Please refer to Section-164 of the Income Tax Act, 1961 for taxing provisions relating to Private Trusts. The Income of Private Trusts may be Taxable at MMR as well.

[@singhajmer2355]

Sir ji village me environmental trust ke liye konsa trust bna skte ha

[@TaxBulls]

Public Charitable Trust ONLY!

[@mohammadaslamshaikh9046]

Sir, Can we also established or open school, college, etc in private trust..? Please update us more in this regards 🙏

[@TaxBulls]

Yes, you can Open. But Charitable Activities are NOT Possible. It will just be like any other Private Business House School

[@TaxBulls]

Please write to us at [e-mail] and/or call us at 9717 00 2510

[@himanshuvyas3899]

Sir I have a doubt Can a husband(who is not related to the public charitable trust) of the settler wife of the public charitable trust give donation and claim deduction under section 80G?

[@TaxBulls]

Whosoever has truly donated donations to any Trust is eligible to claim Section-80G deduction irrespective of his/ her relationship

[@himanshuvyas3899]

And can the Charitable Public Trust who received such donation, show it as Donation in the receipt side of receipt and payment statement?

[@Finskart]

hospital ke liye kaun sa trust banana chahiye

[@TaxBulls]

Public Charitable Trust

[@Techbo.techbivs123]

Can a government employee make a private rust

[@TaxBulls]

Yes! 🙌 A Private Trust is set-up for various purposes, inter alia, Wealth Protection, Succession Planning etc. It is NOT any sought of additional venture or business we are setting-up which will need your attention to be diverted from your Govt. Job.

[@RR-fe8yt]

Charitable trust is irrevocable trust ??

[@mohammadaslamshaikh9046]

Yes it's irrevocable only when you put that clause in the deed.

[@AVIJIT_108]

Sir aur details mein bataiye private trust ke bare mein or taxation please