In this small book, the author has elaborated how a trust can be brought in existence, different kinds of trusts and conditions and formalities which are required to be complied with to create a trust. Besides, the author has examined taxation of private trusts in the light of statutory provisions as well as judicial guidelines.
How private trust can be of use in succession planning and business takeover have also been explained in this book.
Also given are the detailed procedure and drafts of:
- TRUST FOR THE BENEFIT OF MINOR. (FOR HIGHER EDUCATION OR MARRIAGE)
- Text of the Bare Act namely THE INDIAN TRUSTS ACT, 1882
- SPECIMEN OF A PRIVATE SPECIFIC TRUST
On the whole it is a mini referencer on private trust and their taxation.