16 June 2021
i request you to please provide me the format of Board resolution for transferring of assets of a dissolving trust to another and surrendering PAN of Trust , surrendering Registration under section 12AA and 80G .
06 July 2024
Certainly! Here’s a draft Board Resolution for transferring assets of a dissolving trust to another entity and surrendering PAN, registration under section 12AA, and 80G:
---
**Board Resolution**
**Subject: Transfer of Assets, Surrender of PAN, and Registration under Section 12AA and 80G**
**Date: [Insert Date]**
**Present:** [Name of the Trustee 1], Chairman [Name of the Trustee 2] [Name of the Trustee 3] [Name of the Trustee 4] [Name of the Trustee 5]
The Board of Trustees of [Name of the Trust], in a meeting held on [Date], resolves as follows:
**Whereas:**
1. [Name of the Trust] (the "Trust") is a registered trust under the provisions of the Income Tax Act, [Year], and has been operating with the primary objective of [briefly describe the objectives of the Trust].
2. The Trustees have decided to dissolve the Trust due to [reasons for dissolution].
3. It is necessary to transfer the assets and liabilities of the Trust to another charitable entity and to surrender the Permanent Account Number (PAN), registration under Section 12AA, and approval under Section 80G of the Income Tax Act, [Year].
**Resolved:**
1. The Board approves the transfer of all assets and liabilities of the Trust to [Name of the Receiving Entity], a registered charitable organization having similar objectives as the Trust, subject to the completion of necessary legal and regulatory requirements.
2. The Trustees are authorized to execute all documents, agreements, and instruments necessary or desirable for the transfer of assets and liabilities to [Name of the Receiving Entity].
3. The Trustees are further authorized to surrender the Permanent Account Number (PAN) of the Trust to the Income Tax Department and to surrender the registration certificate under Section 12AA of the Income Tax Act, [Year], and the approval under Section 80G of the Income Tax Act, [Year].
4. The resolutions passed herein shall be communicated to the concerned authorities, including the Income Tax Department, and recorded in the minutes of the Trust meeting.
**Further Resolved:**
The Trustees direct the Trust Secretary to ensure compliance with all statutory and regulatory requirements related to the dissolution of the Trust and the transfer of assets.
**Certified True Copy:**
This resolution is certified true and correct as passed at the Board Meeting of the Trustees held on [Date].
For [Name of the Trust]:
[Signature of Chairman/Trustee] [Name of Chairman/Trustee] [Designation]
---
**Notes:** - Customize the resolution as per the specific details of your Trust and the receiving charitable entity. - Ensure all factual statements are accurate and supported by documented evidence. - Include any additional clauses or directives relevant to your Trust’s situation and compliance requirements.
This template provides a framework to authorize and document the Board’s approval for transferring assets of a dissolving trust to another entity and surrendering PAN, registration under Section 12AA, and 80G approvals.
06 July 2024
Here’s a draft Board Resolution for transferring assets of a dissolving trust to another entity and surrendering PAN, registration under section 12AA, and 80G:
---
**Board Resolution**
**Subject: Transfer of Assets, Surrender of PAN, and Registration under Section 12AA and 80G**
**Date: [Insert Date]**
**Present:** [Name of the Trustee 1], Chairman [Name of the Trustee 2] [Name of the Trustee 3] [Name of the Trustee 4] [Name of the Trustee 5]
The Board of Trustees of [Name of the Trust], in a meeting held on [Date], resolves as follows:
**Whereas:**
1. [Name of the Trust] (the "Trust") is a registered trust under the provisions of the Income Tax Act, [Year], and has been operating with the primary objective of [briefly describe the objectives of the Trust].
2. The Trustees have decided to dissolve the Trust due to [reasons for dissolution].
3. It is necessary to transfer the assets and liabilities of the Trust to another charitable entity and to surrender the Permanent Account Number (PAN), registration under Section 12AA, and approval under Section 80G of the Income Tax Act, [Year].
**Resolved:**
1. The Board approves the transfer of all assets and liabilities of the Trust to [Name of the Receiving Entity], a registered charitable organization having similar objectives as the Trust, subject to the completion of necessary legal and regulatory requirements.
2. The Trustees are authorized to execute all documents, agreements, and instruments necessary or desirable for the transfer of assets and liabilities to [Name of the Receiving Entity].
3. The Trustees are further authorized to surrender the Permanent Account Number (PAN) of the Trust to the Income Tax Department and to surrender the registration certificate under Section 12AA of the Income Tax Act, [Year], and the approval under Section 80G of the Income Tax Act, [Year].
4. The resolutions passed herein shall be communicated to the concerned authorities, including the Income Tax Department, and recorded in the minutes of the Trust meeting.
**Further Resolved:**
The Trustees direct the Trust Secretary to ensure compliance with all statutory and regulatory requirements related to the dissolution of the Trust and the transfer of assets.
**Certified True Copy:**
This resolution is certified true and correct as passed at the Board Meeting of the Trustees held on [Date].
For [Name of the Trust]:
[Signature of Chairman/Trustee] [Name of Chairman/Trustee] [Designation]
---
**Notes:** - Customize the resolution as per the specific details of your Trust and the receiving charitable entity. - Ensure all factual statements are accurate and supported by documented evidence. - Include any additional clauses or directives relevant to your Trust’s situation and compliance requirements.
This template provides a framework to authorize and document the Board’s approval for transferring assets of a dissolving trust to another entity and surrendering PAN, registration under Section 12AA, and 80G approvals.
CAclubindia
