Asked in Trusts and estates
Dear Sir, The Trust must do activities of charitable as such your proposed business comes under commercial activity as such it is very difficult for you to register it.
Facts not clear. Can you be more specific about the purpose for the formation of a trust. If the purpose is for the benefit of one or more particular individuals as its Beneficiary then a private trust is advisable. However, no tax benefits are enjoyed by such trust. Money cannot be withdrawn without the consent of its Beneficiary. If this is not your intention, then you and your partners can form Limited Liability Partnership firm (LLP) wherein partners in an LLP have a limited liability and each partner is not responsible or liable for another partner's misconduct or negligence. Alternatively you can opt for the formation a private limited company. You can contact me for guidance should you and partners have decided for the formation of either LLP or a private limited company.
no. you have to register proprietorship firm, partnership firm or company registration for that.
This is my response to you: 1. Do not make a trust; 2. You can make a partnership firm and do that business; 3. You will need to comply with legal formalities.
Trust can't be.. U have to register a firm/company..
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