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    Compliances to be followed by the Trust as per Bombay Public Trust Act 1950

    Feb 28

    Compliances to be followed by the Trust as per Bombay Public Trust Act 1950

    1. According to section 18 sub clause 1 of BPT Act, 1950 trust registration is mandatory.
    2. It is mandatory to inform any change which occurs in the trust in respect of the trustees, movable or immovable properties etc. within a period of 90 days from the change as provided under section 22 of the B.P.T. Act, 1950.
    3. As per section 31A and rule 16A of Bombay public trust Act 1950, trusts having annual income exceeding Rs. 10,000 (Rs. 5,000 for public religious trusts) , at least one month before the commencement of each accounting year, have to prepare and submit the budget in the form schedule VII-A, showing the probable receipts and disbursements of the trust during the following year to the Charity Commissioner.
    4. Meetings should held regularly during the year.
    5. Minutes book for meetings maintained
    6. List of Trustees & Governing Body has been submitted to the Charity Commissioner in the Month of May.
    7. As per section 36 prior permission is required from charity commissioner in case of sale, exchange or gift of immoveable property
    8. “As per section 36A Prior permission of charity commissioner for borrowing¬† is necessary”
    9. Trust should have to maintain Trustee register, donation register, investment register, movable immoveable property register.
    10. Income and Expenditure account and Balancesheet should be maintained and prepared in specified format.