A trust is a convenient method whereby a limited number of persons may hold property on behalf other persons, who maybe a large or fluctuating body or who may include persons not yet born. Once the property has vested in the trustees, they own the property, but they has compelled by law to exercise their ownership for the benefit of the beneficiaries and for them only. It means that legal ownership vests in the trustee or trustees but beneficiaries have  ownership. A trust is an obligation annexed to the ownership of property and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him for the benefit of another, or of another and the owner • Author of Trust – the person who reposes or declares the confidence is calling the “Author of the trust” • Trustee – The person who accepts the confidence is calling the “Trustee” • Beneficiaries – The person for whose benefit the confidence is accepting called the “Beneficiaries” • Trust Property – The subject matter of trust has called “Trust Property” or “Trust money” • Instrument of Trust – The instrument, if any, by which the trust is

A person running an ngo can have several benefits. If the ngo is registered under section 12a and 80g, the ngo tax is exempted lifetime and the donor gets 50% tax rebate while giving donation to that ngo. The ngo can also approach corporates for funding.

Any person can form a ngo provided he is not involved in any government job and the person has attained 18 years of age. Ngos are of basically 3 categories- Trust registered under Indian Trust Act 1882. Society registered under Indian Societies Act 1860 Section 8 Company Act