Procedure for the rectification of trust deed
26-Dec-2023 (In Documentation Law)
Is it possible rectify a trust deed for paying remuneration to trustees, original deed did not allow remuneration for trustee. The trust will be paying income tax on the profit earned & is not claiming tax exemption. This is Trust formed for school and the trustees are working in the role of Academics Head, administration head.
It is better to read the original trust deed to answer this question because the terms of trust and conditions on which the trustees are entrusted the responsibility should be ascertained first. Normally the trustees have volunteered to serve without remuneration. That is the expectation from the term 'Trustee' However if the original creator of trust is present he can amend the trust deed suitably. Then what are all the things he desires to add or delete have to be examined with a legal eye Therefore it is essential to look into the document and proposed amendments of the donor or Board of trustees
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