WE TRUST Educational, Environmental Protection, Consumer Awareness & Charitable TRUST ( NGO )
Environmental Protection,Awareness Government Scheme of all Government Department, Consumer rights,libraries, study centers, training centers,education cholarship & study materials to students, poor, blind, diseased and disabled lives give food, clothing, provide medical aid, rural development,Implementation,welfare disabled development, employment activities, support homes and asylums, aged , aid in setting, running the Old age Home, Orphanage Home and Home, mentally retarded etc.,smoking injured. eye donation, blood donation. work for the prevention of HIV/AIDS and to deal with its immediate consequences, shelters, employment training and self confidence training for forsaken women, widows and poor women.animal shelters especially for animals,awareness programs on Child labour.
WE TRUST ‘S’ Our Trust, So Join and Spilt or Info To U and Your Friends And Family’s,,, Trust Social Service and Help and Awareness and educational and Old Age Home, Child Home, View More Down Service To all People, So We Are All Join And Support to Our Trust, U Donate Money or Things or Any Support Thanks to All…. Come And Participate or Support to Any …….. to Help Service to all Environmental Protection,Awareness Government Scheme of all Government Department, Consumer rights,libraries, study centers, training centers,education cholarship & study materials to students, poor, blind, diseased and disabled lives give food, clothing, provide medical aid, rural development,Implementation,welfare disabled development, employment activities, support homes and asylums, aged , aid in setting, running the Old age Home, Orphanage Home and Home, mentally retarded etc.,smoking injured. eye donation, blood donation. work for the prevention of HIV/AIDS and to deal with its immediate consequences, shelters, employment training and self confidence training for forsaken women, widows and poor women.animal shelters especially for animals,awareness programs on Child labour. WE TRUST TO WE ARE ALL TO JOIN TO OUR TRUST IS WIN …
The Board of Trustees is constituted with the following trustees:
1. Mr. R.Prabu,, S/o.Mr.R.Ramakrishnan, aged about 27, residing at No.441, Manjolai Estate Post, Manimuthar, Ambasamudram, Tirunelveli – 627 420, Tirunelveli District.Hereinafter called as Settler, Founder and Author of the Trust as well called as Managing Trustee of the Trust.
2. Mr.S.Mohamed Faizal Khan S/o. Mr.P.Sheik Meeran, aged about 34, residing at No.5/94-B, Vadakku Thalaiyuthu, Thalaiyuthu Post , Tirunelveli – 627 357, Tirunelveli District. Hereinafter called as one of the trustees of the Trust.
3. Mr.K.Syed Ali, S/o. Mr.K.Kasali, aged about 32, residing at No.90, East Thenkalam, Thenkalam, Sankarnagar Post, Tirunelveli – 627 357, Tirunelveli District. Hereinafter called as one of the trustees of the Trust.
4. Mr. R.Ramakrishnan, S/o.Mr.R.Ramasamy, aged about 51, residing at No.4/90, Manjolai Estate Post, Manimuthar, Ambasamudram, Tirunelveli – 627 420, Tirunelveli District. Hereinafter called as one of the trustees of the Trust
5. Mr. R.Rajan,, S/o.Mr.R.Ramakrishnan, aged about 28, residing at No.4/90, Manjolai Estate Post, Manimuthar, Ambasamudram, Tirunelveli – 627 420, Tirunelveli District. Hereinafter called as one of the trustees of the Trust.
The trustees acknowledge the trust money hereby set apart, granted, conveyed, transferred, and assigned unto for the object contemplated by the founder of the trust and to have and hold the same in trust hereinafter declared.
The author put forth the following criteria as primary covenant for the execution of the trust.
A. The trust is irrevocable and will continue in perpetuity.
B. The activities of the trust and its objects will be confined to India
C. There will be no profit motive, whatsoever and all its activities would be prompted solely by service motive.
D. The benefit is intended for the public at large without any discrimination of any caste, religion, creed, color, sex etc.,
E. The trust will not embark on any business activity.
F. There should not be any benefit directly or indirectly to the settler, trustees, committee members or the families or relatives of the settler trustees or committee member or any concern in which any of these persons are interested.
Now this deed of trust witnesses as follows:
1. Name of the Trust:
The trust shall be known as WE TRUST
2. REGISTERED OFFICE: (Rental Building)
The registered Office of the trust is at No-127, S.N.High Road, Tirunelveli – 627001 Tirunelveli - District. Or Board may shift or change the registered office to any other Place.
3. OBJECT CLAUSE
1. To Develop important of the environmental protection.
2. To extend the awareness for Government Scheme of all Government Department.
3. To extend the awareness about Consumer rights
4. To conduct awareness programs for environmental protection.
5. To establish and manage libraries, study centers, training centers, for enriching Talents & efficiency in persons in Tamil Literature
6. To promote education for poor and deserving students by grants of scholarship & study materials to students.
7. To fund and support the poor, blind, diseased and disabled lives and generally to give food, clothing and maintenance to the poor, needy and defensives.
8. The trust may carry out any green project for the environmental protection and all Government project Schemes
9. To provide medical aid in all ways for the poor people
10. To work for the social development of SC/ST and tribal people to promote for men social upliftment.
11. To provide material and technical service to the rural people in
rural development aspects on an integrated basis.
12. To promote voluntary action towards implementation of project for . the welfare of disabled and to act as a catalyst for their development
13. To Help Handicapped persons
14. To promote education and culture by establishing and managing educational, institutions such as schools, colleges, technical institutions, tuition centers, coaching centers and other non-formal institutions. The trust may also take up the managements of such institutions established by any individual or trust or association registered under the society’s registration act or any other enactments in force or that may be brought into force by the state or the central government.
15. To establish centers for conducting self confidence trainings, educational awareness programs, guidance to higher education, guidance to employment and other related activities.
16. To provide scholarship, study materials, food, cloths, medical facility and shelters for the poor students.
17. To establish and manage libraries, study centers, research training centers, vocational training centers either single handed or composite hands with other institutions / universities.
18. To publish and encourage publication of books, periodicals and journals for dissemination of knowledge.
19. To impart Modern Education, provide Shelter, study materials, food and clothing and health care to every Poor Student irrespective of the cast, creed, religion, race or language.
20. To promote education for poor and deserving students by grants of scholarship & study materials to students.
21. To help the poor and downtrodden and to establish promote, run, maintain, assist, support homes and asylums for the ailing poor, aged and or aid in setting up and or maintaining and or running the Old age Home, Orphanage Home and Home for the handicapped, mentally retarded etc.,
22. To provide Awareness programs for smoking injured.
23. To provide medical facilities to the old age, orphans and destitute. Further is world dense and a place of quiet with peace removing the poverty, solitude, emptiness, aloofness, hunger and suffering of the orphan and destitute.
24. To provide material and technical service to the rural people in rural development aspects on an integrated basis.
25. To fund and support the poor, blind, diseased and disabled lives and generally to give food, clothing and maintenance to the poor, needy and defensives.
26. To acquire property for the sole use for public good by making it available for public purposes as for example, housing a library clinic, crèche and or as a community hall to be available for public use as training classes, seminars, discourses and other public functions for benefit of the community in general.
27. The trust may carry out any green project for the environmental . protection and all Government project Schemes
27. To operate ambulance and to conduct all type of medical camps in needy Places.
28. To provide medical aid in all ways for the poor people.
29. Food, cloths, medical aid, education, employment training, self confidence training are to be given to physically challenged people and to establish shelters to them.
30. To redeem the alcohol, drug and other narcotics addicted victims by establishing counseling centers and to organize awareness programs to the student community.
31. To conduct awareness programs on eye donation and blood donation. Blood donors are to be integrated and regulated for giving the blood to the needy patients on time and to establish blood banks.
32. To work for the prevention of HIV/AIDS and to deal with its immediate consequences
33. To work for the Unisex development and serve for the needy people
34. To development village through traditional sustainable agriculture methods and explain in the importance of eco-friendly and environmentally friendly types of cultivation at the grass root level.
35. To strengthen the agriculture sector and provide intensive training to rural peasants on various issues to make them to effectively involve in the several agro based activities.
36. To work for the protection and preservation of natural environment and carry out tree plantation program for the better sanitary atmosphere of rural areas.
37. To afford relief in distress and affected by earth quake, flood, famine,
pestilence, other accidents and natural calamities.
38. To provide food, cloths, medicine, education, shelters, employment training and self confidence training for forsaken women, widows and poor women.
39. To provide legal counseling to the women in overcoming the injustice
caused to them and for the eradication of dowry system in society.
40. To contribute to building a society where all disabled people can gain access to education, health care, employment opportunity and to make the disabled people realize their potential.
41. To promote voluntary action towards implementation of project for the welfare of disabled and to act as a catalyst for their development.
42. To alleviate the suffering & misery disabled with a spirit of charity and human compassion.
43. Help to Handicapped person
44. Help to Leprosy patients
45. To arranged Program & skill training for women
46. To get FCRA to mobilized foreign contribution to welfare activities for poor irrespective of caste, religion and colour.
47. To establish animal shelters especially for cows
48. To conduct awareness programs on Child labour.
49. To associate or align with any progressive NGO’s, societies, self help groups (women & men) which have the object of social welfare and to do any projects or schemes being notified in the official as on eligible project or scheme by the National committee as constituted by central government under section 35AC of the Income Tax Act, 1961 (NABARD, DRDA, TANSAC, TNHV, MOEF, etc.,).
4. Sources for the trust:
The author hereby set apart a corpus for the object of the trust which will be reserved for the sustenance of the trust.
The author in order to augment funds for the objects stated above empowers the Board of trustees to receive donation, gifts, voluntary contribution, grant in aid, assistance from the donors either towards corpus or for the revenue expenditure for the charitable purposes as contemplated in the object clause from all i.e. Individual, Government, institutional donors either in India or abroad for the furtherance of the objects as specified in the object clause.
5. APPLICATION OF INCOME:
a) The income and funds of the trust will solely be utilized towards the objects & no portion of it will be utilized for payment to the author, trustees, members of the committee, office bearers by way of profits dividends, interest, bonus etc., or otherwise.
b) Corpus Fund or Capital Fund or Earmarked fund shall be invested in such
Manner as prescribed under section 11 (5) of the income Tax Act 1961 till the
Fund is defrayed for capital or revenue expenditure for the maintenance and
Sustenance of the objects for which the fund is created.
c) Where the income of the relevant year is not applied for educational, development of Tamil literature and charitable purposes the trust may accumulate or set apart either the whole or part of its income for future application for the purpose of the trust by comply the provisions of the Income Tax Act, 1961.
6. Management:
The management of the affairs of the trust shall vest in a board of trustees. The board shall have all the powers incidental to and necessary for carrying out the administration and management of the trust having regard to the objects and purposes thereof. In the absence of consensus the board shall function in accordance with the decision of the majority of the members of the board.
7. POWER OF THE BOARD OF TRUSTEE:
The Board of Trustees has the Power:
1. To receive donation
2. To apply the income
3. To accumulate the income and corpus
4. To engage personnel
5. To sue, defend suits and compromise
6. To invest, reinvest or change the nature of trust funds
7. To borrow funds
8. To sign , authorize , execute any documents, agreement, covenants etc.,
9. To form any committee.
The Board shall not sell dispose or alienate the properties of the Trust. However in furtherance of the Objects. The Board may sell the property and this can be resorted to only with the written approval of the Author / Settler of the Trust.
All these powers shall be well within the ambit of the objects of the trust hereby created.
The board shall act according to the directions, instructions, commands, guidelines as may be specified by the advisory committee as may be formed by the Board from time to time.
8. DUTIES OF THE BOARD OF TRUSTEES
The Board of Trustees has the duty:
1. To conduct meetings once in 3 months and to frame rules and regulations for the conduction of meeting.
2. To maintain proper accounts
3. To represent before the Government, Government bodies, financial institutions, funding agency etc.,
4. To organize advisory committee meeting
5. To preserve documents, accounts, title deeds, vouchers etc.,
6. To keep proper minutes of the proceedings of the Board and advisory board and resolutions carried in the meetings.
9. BANK ACCOUNT;
The trustees may open Bank account in the name of the trust in any of the Nationalized, Scheduled, Co-operative, Regional Rural Banks, MNC or other banks or Financial Institutions as the Board of Trustees decide from time to time. The said account shall be operated by Managing Trustee of the trust for and on behalf of the trust.
10. ACCOUNTING YEAR, ACCOUNT AND AUDIT:
The accounts of the trust shall be regularly maintained every year and the accounts shall be closed by 31st March and the same shall be audited by a qualified chartered accountant.
11. ADVISORY BODY AND COMMITTEE:
The Board may constitute any finance committees entrusting the function of raising funds for the trust or other committee for any specified purpose.
The members of the financial committee and other committee shall hold their office for a period of 3 years or a lesser tenure as may be fixed by the Board and subsequent committee shall be composed and constituted by the board.
The board may frame rules, by laws or regulations regarding the appointment of committees, sub-committees and their obligations, meeting, quorum, notice, responsibilities, duties and other matters connected with the committee.
12. INVESTMENT:
The investment of the funds of the trust shall be in accordance with provisions of section 11(5) read with Section 13(1) (d) of the Income Tax Act, 1961.
13. BENEFICIARIES:
The benefits of the trust are open to all, irrespective of Caste, Religion, Sex, etc.
14. REMUNERATION:
The income and funds of the trust will solely be utilized towards the objects and no portion of it will be utilized for payment to the author, trustees, committee members by way of profit, dividend , interest etc.,
15. AMENDMENT:
The Board by passing a resolution in the Board meeting authorize Managing trustee to amend the Trust Deed subject to the following covenants:
1. The amendment of the trust will be carried out only with the prior
Approval of the Commissioner Of Income Tax Madurai.
2.The amendment would not extend to alter the basic character or objects of the trust and further no such amendments which may prove to be repugnant of sections 2(15), 11, and 13 and 80G of the Income Tax Act shall be made.
16. DURATION OF THE TRUST:
The trust hereby formed shall be irrevocable.
17. ACTIVITIES :
The objects, activities of the trust shall be carried out only in India without any profit motive.
18. NEW TRUSTEE:
The Trustees hereby appointed in the Board are life trustees and in the event of any vacancy by resignation or otherwise new trustee shall be appointed either by the author or by the consent of all the members of the Board.
19. DISSOLUTION OR WINDING UP:
In the event of dissolution or winding up of the trust, the assets remaining as on the date of dissolution shall not under the circumstances be distributed among the author, trustees, committee members but the same shall be transferred to another trust whose objects are similar to those of this trust and which enjoys recognition under section 80G of the Income Tax Act. I.e. the assets/liabilities will be transferred to a trust not only having similar objects but also enjoying exemption u/s 80G of the I.T. Act at the time of transfer.
20. OTHERS:
The trust shall under no circumstances do or venture into any business directly or indirectly and as such the question of maintenance of separate books of account , compliance of the provisions of section 11(4) and proviso to section 80G(5)(i) of the Income Tax Act,1961 does not arise.
The initial amount settled upon the trustee is Rs.1000/- (Rupees one Thousand only) on which the stamp duty has been paid. At present the trust has no other property except the nucleus amount of Rs.1000/-. In witness whereof the Founder and the Author of the Trust has executed this declaration of trust, the day and month and year first above written in the Sub-Registrar’s Office,
I intend to register this Deed in Joint – II Sub- Registrar’s Office, Tirunelveli,
R. PRABU Founder & Managing Trustee
NGO’S Name : WE TRUST
Income Tax Pan No : AAATW1955E
Bank Account No : 1249155000060894
The KARUR VYSYA BANK LTD,
TIRUNELVELI TOWN – 627 006
TAMILNADU, INDIA
WE TRUST ‘S’ Our Trust, So Join and Spilt or Info To U and Your Friends And Family’s,,, Trust Social Service and Help and Awareness and educational and Old Age Home, Child Home, View More Down Service To all People, So We Are All Join And Support to Our Trust, U Donate Money or Things or Any Support Thanks to All…. Come And Participate or Support to Any …….. to Help Service to all Environmental Protection,Awareness Government Scheme of all Government Department, Consumer rights,libraries, study centers, training centers,education cholarship & study materials to students, poor, blind, diseased and disabled lives give food, clothing, provide medical aid, rural development,Implementation,welfare disabled development, employment activities, support homes and asylums, aged , aid in setting, running the Old age Home, Orphanage Home and Home, mentally retarded etc.,smoking injured. eye donation, blood donation. work for the prevention of HIV/AIDS and to deal with its immediate consequences, shelters, employment training and self confidence training for forsaken women, widows and poor women.animal shelters especially for animals,awareness programs on Child labour. WE TRUST TO WE ARE ALL TO JOIN TO OUR TRUST IS WIN …
The Board of Trustees is constituted with the following trustees:
1. Mr. R.Prabu,, S/o.Mr.R.Ramakrishnan, aged about 27, residing at No.441, Manjolai Estate Post, Manimuthar, Ambasamudram, Tirunelveli – 627 420, Tirunelveli District.Hereinafter called as Settler, Founder and Author of the Trust as well called as Managing Trustee of the Trust.
2. Mr.S.Mohamed Faizal Khan S/o. Mr.P.Sheik Meeran, aged about 34, residing at No.5/94-B, Vadakku Thalaiyuthu, Thalaiyuthu Post , Tirunelveli – 627 357, Tirunelveli District. Hereinafter called as one of the trustees of the Trust.
3. Mr.K.Syed Ali, S/o. Mr.K.Kasali, aged about 32, residing at No.90, East Thenkalam, Thenkalam, Sankarnagar Post, Tirunelveli – 627 357, Tirunelveli District. Hereinafter called as one of the trustees of the Trust.
4. Mr. R.Ramakrishnan, S/o.Mr.R.Ramasamy, aged about 51, residing at No.4/90, Manjolai Estate Post, Manimuthar, Ambasamudram, Tirunelveli – 627 420, Tirunelveli District. Hereinafter called as one of the trustees of the Trust
5. Mr. R.Rajan,, S/o.Mr.R.Ramakrishnan, aged about 28, residing at No.4/90, Manjolai Estate Post, Manimuthar, Ambasamudram, Tirunelveli – 627 420, Tirunelveli District. Hereinafter called as one of the trustees of the Trust.
The trustees acknowledge the trust money hereby set apart, granted, conveyed, transferred, and assigned unto for the object contemplated by the founder of the trust and to have and hold the same in trust hereinafter declared.
The author put forth the following criteria as primary covenant for the execution of the trust.
A. The trust is irrevocable and will continue in perpetuity.
B. The activities of the trust and its objects will be confined to India
C. There will be no profit motive, whatsoever and all its activities would be prompted solely by service motive.
D. The benefit is intended for the public at large without any discrimination of any caste, religion, creed, color, sex etc.,
E. The trust will not embark on any business activity.
F. There should not be any benefit directly or indirectly to the settler, trustees, committee members or the families or relatives of the settler trustees or committee member or any concern in which any of these persons are interested.
Now this deed of trust witnesses as follows:
1. Name of the Trust:
The trust shall be known as WE TRUST
2. REGISTERED OFFICE: (Rental Building)
The registered Office of the trust is at No-127, S.N.High Road, Tirunelveli – 627001 Tirunelveli - District. Or Board may shift or change the registered office to any other Place.
3. OBJECT CLAUSE
1. To Develop important of the environmental protection.
2. To extend the awareness for Government Scheme of all Government Department.
3. To extend the awareness about Consumer rights
4. To conduct awareness programs for environmental protection.
5. To establish and manage libraries, study centers, training centers, for enriching Talents & efficiency in persons in Tamil Literature
6. To promote education for poor and deserving students by grants of scholarship & study materials to students.
7. To fund and support the poor, blind, diseased and disabled lives and generally to give food, clothing and maintenance to the poor, needy and defensives.
8. The trust may carry out any green project for the environmental protection and all Government project Schemes
9. To provide medical aid in all ways for the poor people
10. To work for the social development of SC/ST and tribal people to promote for men social upliftment.
11. To provide material and technical service to the rural people in
rural development aspects on an integrated basis.
12. To promote voluntary action towards implementation of project for . the welfare of disabled and to act as a catalyst for their development
13. To Help Handicapped persons
14. To promote education and culture by establishing and managing educational, institutions such as schools, colleges, technical institutions, tuition centers, coaching centers and other non-formal institutions. The trust may also take up the managements of such institutions established by any individual or trust or association registered under the society’s registration act or any other enactments in force or that may be brought into force by the state or the central government.
15. To establish centers for conducting self confidence trainings, educational awareness programs, guidance to higher education, guidance to employment and other related activities.
16. To provide scholarship, study materials, food, cloths, medical facility and shelters for the poor students.
17. To establish and manage libraries, study centers, research training centers, vocational training centers either single handed or composite hands with other institutions / universities.
18. To publish and encourage publication of books, periodicals and journals for dissemination of knowledge.
19. To impart Modern Education, provide Shelter, study materials, food and clothing and health care to every Poor Student irrespective of the cast, creed, religion, race or language.
20. To promote education for poor and deserving students by grants of scholarship & study materials to students.
21. To help the poor and downtrodden and to establish promote, run, maintain, assist, support homes and asylums for the ailing poor, aged and or aid in setting up and or maintaining and or running the Old age Home, Orphanage Home and Home for the handicapped, mentally retarded etc.,
22. To provide Awareness programs for smoking injured.
23. To provide medical facilities to the old age, orphans and destitute. Further is world dense and a place of quiet with peace removing the poverty, solitude, emptiness, aloofness, hunger and suffering of the orphan and destitute.
24. To provide material and technical service to the rural people in rural development aspects on an integrated basis.
25. To fund and support the poor, blind, diseased and disabled lives and generally to give food, clothing and maintenance to the poor, needy and defensives.
26. To acquire property for the sole use for public good by making it available for public purposes as for example, housing a library clinic, crèche and or as a community hall to be available for public use as training classes, seminars, discourses and other public functions for benefit of the community in general.
27. The trust may carry out any green project for the environmental . protection and all Government project Schemes
27. To operate ambulance and to conduct all type of medical camps in needy Places.
28. To provide medical aid in all ways for the poor people.
29. Food, cloths, medical aid, education, employment training, self confidence training are to be given to physically challenged people and to establish shelters to them.
30. To redeem the alcohol, drug and other narcotics addicted victims by establishing counseling centers and to organize awareness programs to the student community.
31. To conduct awareness programs on eye donation and blood donation. Blood donors are to be integrated and regulated for giving the blood to the needy patients on time and to establish blood banks.
32. To work for the prevention of HIV/AIDS and to deal with its immediate consequences
33. To work for the Unisex development and serve for the needy people
34. To development village through traditional sustainable agriculture methods and explain in the importance of eco-friendly and environmentally friendly types of cultivation at the grass root level.
35. To strengthen the agriculture sector and provide intensive training to rural peasants on various issues to make them to effectively involve in the several agro based activities.
36. To work for the protection and preservation of natural environment and carry out tree plantation program for the better sanitary atmosphere of rural areas.
37. To afford relief in distress and affected by earth quake, flood, famine,
pestilence, other accidents and natural calamities.
38. To provide food, cloths, medicine, education, shelters, employment training and self confidence training for forsaken women, widows and poor women.
39. To provide legal counseling to the women in overcoming the injustice
caused to them and for the eradication of dowry system in society.
40. To contribute to building a society where all disabled people can gain access to education, health care, employment opportunity and to make the disabled people realize their potential.
41. To promote voluntary action towards implementation of project for the welfare of disabled and to act as a catalyst for their development.
42. To alleviate the suffering & misery disabled with a spirit of charity and human compassion.
43. Help to Handicapped person
44. Help to Leprosy patients
45. To arranged Program & skill training for women
46. To get FCRA to mobilized foreign contribution to welfare activities for poor irrespective of caste, religion and colour.
47. To establish animal shelters especially for cows
48. To conduct awareness programs on Child labour.
49. To associate or align with any progressive NGO’s, societies, self help groups (women & men) which have the object of social welfare and to do any projects or schemes being notified in the official as on eligible project or scheme by the National committee as constituted by central government under section 35AC of the Income Tax Act, 1961 (NABARD, DRDA, TANSAC, TNHV, MOEF, etc.,).
4. Sources for the trust:
The author hereby set apart a corpus for the object of the trust which will be reserved for the sustenance of the trust.
The author in order to augment funds for the objects stated above empowers the Board of trustees to receive donation, gifts, voluntary contribution, grant in aid, assistance from the donors either towards corpus or for the revenue expenditure for the charitable purposes as contemplated in the object clause from all i.e. Individual, Government, institutional donors either in India or abroad for the furtherance of the objects as specified in the object clause.
5. APPLICATION OF INCOME:
a) The income and funds of the trust will solely be utilized towards the objects & no portion of it will be utilized for payment to the author, trustees, members of the committee, office bearers by way of profits dividends, interest, bonus etc., or otherwise.
b) Corpus Fund or Capital Fund or Earmarked fund shall be invested in such
Manner as prescribed under section 11 (5) of the income Tax Act 1961 till the
Fund is defrayed for capital or revenue expenditure for the maintenance and
Sustenance of the objects for which the fund is created.
c) Where the income of the relevant year is not applied for educational, development of Tamil literature and charitable purposes the trust may accumulate or set apart either the whole or part of its income for future application for the purpose of the trust by comply the provisions of the Income Tax Act, 1961.
6. Management:
The management of the affairs of the trust shall vest in a board of trustees. The board shall have all the powers incidental to and necessary for carrying out the administration and management of the trust having regard to the objects and purposes thereof. In the absence of consensus the board shall function in accordance with the decision of the majority of the members of the board.
7. POWER OF THE BOARD OF TRUSTEE:
The Board of Trustees has the Power:
1. To receive donation
2. To apply the income
3. To accumulate the income and corpus
4. To engage personnel
5. To sue, defend suits and compromise
6. To invest, reinvest or change the nature of trust funds
7. To borrow funds
8. To sign , authorize , execute any documents, agreement, covenants etc.,
9. To form any committee.
The Board shall not sell dispose or alienate the properties of the Trust. However in furtherance of the Objects. The Board may sell the property and this can be resorted to only with the written approval of the Author / Settler of the Trust.
All these powers shall be well within the ambit of the objects of the trust hereby created.
The board shall act according to the directions, instructions, commands, guidelines as may be specified by the advisory committee as may be formed by the Board from time to time.
8. DUTIES OF THE BOARD OF TRUSTEES
The Board of Trustees has the duty:
1. To conduct meetings once in 3 months and to frame rules and regulations for the conduction of meeting.
2. To maintain proper accounts
3. To represent before the Government, Government bodies, financial institutions, funding agency etc.,
4. To organize advisory committee meeting
5. To preserve documents, accounts, title deeds, vouchers etc.,
6. To keep proper minutes of the proceedings of the Board and advisory board and resolutions carried in the meetings.
9. BANK ACCOUNT;
The trustees may open Bank account in the name of the trust in any of the Nationalized, Scheduled, Co-operative, Regional Rural Banks, MNC or other banks or Financial Institutions as the Board of Trustees decide from time to time. The said account shall be operated by Managing Trustee of the trust for and on behalf of the trust.
10. ACCOUNTING YEAR, ACCOUNT AND AUDIT:
The accounts of the trust shall be regularly maintained every year and the accounts shall be closed by 31st March and the same shall be audited by a qualified chartered accountant.
11. ADVISORY BODY AND COMMITTEE:
The Board may constitute any finance committees entrusting the function of raising funds for the trust or other committee for any specified purpose.
The members of the financial committee and other committee shall hold their office for a period of 3 years or a lesser tenure as may be fixed by the Board and subsequent committee shall be composed and constituted by the board.
The board may frame rules, by laws or regulations regarding the appointment of committees, sub-committees and their obligations, meeting, quorum, notice, responsibilities, duties and other matters connected with the committee.
12. INVESTMENT:
The investment of the funds of the trust shall be in accordance with provisions of section 11(5) read with Section 13(1) (d) of the Income Tax Act, 1961.
13. BENEFICIARIES:
The benefits of the trust are open to all, irrespective of Caste, Religion, Sex, etc.
14. REMUNERATION:
The income and funds of the trust will solely be utilized towards the objects and no portion of it will be utilized for payment to the author, trustees, committee members by way of profit, dividend , interest etc.,
15. AMENDMENT:
The Board by passing a resolution in the Board meeting authorize Managing trustee to amend the Trust Deed subject to the following covenants:
1. The amendment of the trust will be carried out only with the prior
Approval of the Commissioner Of Income Tax Madurai.
2.The amendment would not extend to alter the basic character or objects of the trust and further no such amendments which may prove to be repugnant of sections 2(15), 11, and 13 and 80G of the Income Tax Act shall be made.
16. DURATION OF THE TRUST:
The trust hereby formed shall be irrevocable.
17. ACTIVITIES :
The objects, activities of the trust shall be carried out only in India without any profit motive.
18. NEW TRUSTEE:
The Trustees hereby appointed in the Board are life trustees and in the event of any vacancy by resignation or otherwise new trustee shall be appointed either by the author or by the consent of all the members of the Board.
19. DISSOLUTION OR WINDING UP:
In the event of dissolution or winding up of the trust, the assets remaining as on the date of dissolution shall not under the circumstances be distributed among the author, trustees, committee members but the same shall be transferred to another trust whose objects are similar to those of this trust and which enjoys recognition under section 80G of the Income Tax Act. I.e. the assets/liabilities will be transferred to a trust not only having similar objects but also enjoying exemption u/s 80G of the I.T. Act at the time of transfer.
20. OTHERS:
The trust shall under no circumstances do or venture into any business directly or indirectly and as such the question of maintenance of separate books of account , compliance of the provisions of section 11(4) and proviso to section 80G(5)(i) of the Income Tax Act,1961 does not arise.
The initial amount settled upon the trustee is Rs.1000/- (Rupees one Thousand only) on which the stamp duty has been paid. At present the trust has no other property except the nucleus amount of Rs.1000/-. In witness whereof the Founder and the Author of the Trust has executed this declaration of trust, the day and month and year first above written in the Sub-Registrar’s Office,
I intend to register this Deed in Joint – II Sub- Registrar’s Office, Tirunelveli,
R. PRABU Founder & Managing Trustee
NGO’S Name : WE TRUST
Income Tax Pan No : AAATW1955E
Bank Account No : 1249155000060894
The KARUR VYSYA BANK LTD,
TIRUNELVELI TOWN – 627 006
TAMILNADU, INDIA