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Receive salary in trust Bank account so that we don't have salary
19-Dec-2024 (In Family Law)
While seeing recent atul case
I had a question can we make a trust for ourselves them make the trust receive salary from company. So that we ourselves have no salary in theory? And as it our trust we can just withdraw money we need from trust Bank account
Is this possible in reality
Even if you create a trust for diverting your salary your intention to circumvent payment/maintenance to your wife would be evident. In fact Courts have vide various orders and judgements passed strictures as against the same. Ap the entire idea of doing such thing would be nothing but an exercise in futility. Feel free to contact me for seeking any legal advice as regards the same.
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Adv. Prerna Shukla
Mumbai | 700+ Answers
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You can use trust money for the beneficiaries which you incorporate into the Trust Deed while registering it. Creation of Trust for own Profits is illegal, it is violation of the Income Tax Laws in India. Trusts are incorporated for Charitable purposes.
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Adv. Pankaj Bajaj
Mumbai | 1000+ Answers
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