19 February 2010
In case the trust wants to claim application of income u/s 11 of the Income Tax Act, it has be get Registered u/s 12A of the I.T.Act. Though the I.T.Act does not define the Trust, as per the Indian Trust's Act, a "trust" is an obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the person who reposes or declares the confidence is called the "author of the trust": Therefore, the condition of registration is applicable to all trusts.
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