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Post Registration Compliance after Trust Registration is necessary to protecting the legal and operational status of a registered trust. Trustees are required to complete a few things after registering the trust, such as getting a Permanent Account Number (PAN) for the trust. Even if the trust's income is protected from the Income Tax Act, regular income tax return filing is still required. Trusts that are registered under Section 12A or 12AB are required to keep necessary financial records and provide accurate accounting of grants, items, and costs. Important components of post-registration compliance include filing Form 10B for yearly audits, meeting deadlines, and, if relevant, complying with GST laws. Because non-compliance can lead to fines or the end of exemptions, compliance is essential for credibility and trust operations.
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Ad Detail: Post Registration Compliance after Trust Registration
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