Are you looking to start an educational trust in India to set up a school? If so, there are a few things you need to know to get started.
If you want to open an educational trust to set up a school, the process is not very complicated. Here are the steps that you need to follow:
1. The first step is to identify the purpose of the trust. This is important because it will help you decide the name of the trust, as well as the area of operation. For Example, if you intend to open a school – you need to define the purpose and scope of the trust – so do mention that this school has been setup to run a school.
2. Once the purpose is decided, you need to get the required documents in place. This includes the Memorandum of Association (MoA), the Articles of Association (AoA), and the registration certificate.
3. After the documents are ready, you need to open a bank account in the name of the trust. This is important to ensure that the funds of the trust are managed properly.
4. The next step is to draft the trust deed. This document will contain all the details about the trust, such as the name, the purpose, the registered office, the trustees, etc.
5. Once the trust deed is ready, you need to get it registered with your local Sub Registrar or Charities Commissioner. This is an important step to ensure the legal status of the trust.
6. After the registration is complete, you need to obtain the Tax Exemption Certificate from the Income Tax Department. This will help the trust to avail of various benefits and exemptions under the Income Tax Act.
7. Once you get the Income Tax Exemption you can start raising the funds to start your school
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