There are three types of trusts in India:
Public trusts are divided into religious and benevolent trusts, whilst private trusts operate in accordance with the Indian Trusts Act of 1882. Some of the important laws governing the enforcement of public trusts in India are the Religious Endowments Act of 1863, the Charitable and Religious Trust Act of 1920, and the Bombay Public Trust Act of 1950.
A "Private Trust" is a legal arrangement established for a person's benefit as opposed to a public or charity one. It was established to provide financial support to one or more beneficiaries that the trustee is aware of. A private trust's advantages are exclusively available to the named beneficiaries, and it does not have a charitable objective. These trusts are required to abide by the Indian Trusts Act of 1882's rules.
A Public Trust fundamentally serves the interests of all citizens. Public trusts, in contrast to private trusts, are established for philanthropic or religious purposes and do not operate in accordance with the Indian Trusts Act. Such a trust adheres to the general legislation that is now in force. Similar to private trusts, these trusts may be created by will throughout a person's lifetime.
As the name suggests, the Public-Cum-Private Trusts serve a dual purpose. They are eligible to use their income for public as well as private purposes. That implies that beneficiaries of such Trust could be either public or private persons or both.
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