IRREVOCABLE TRUST
US election interference is hard. Messing with your mind is easy
Apprehension surrounding election disruptions is shaping how Americans approach voting, with many fearing intimidation while exercising their rights. The Trump administration's federal actions have further fueled these anxieties, jeopardizing public trust in the electoral framework. Yet, in the face of these uncertainties, early voting has seen considerable turnout, with state authorities proactively planning to maintain election safety this coming November.
Children have fundamental right to access internet, can't impose blanket ban on its use: SC
The Supreme Court affirmed the right to access the internet as fundamental for children. It ordered the creation of a national database to detect and remove harmful content targeting minors. The court emphasized the importance of content moderation while ensuring child safety online. It implemented measures to combat the increase in child sexual exploitation material on digital platforms.
Hobby Lobby founder David Green turned a $600 loan into a billion-dollar retail empire, then gave away ownership
David Green started Hobby Lobby with a $600 loan in 1970 and built it into a nationwide arts-and-crafts retailer. But his decision to transfer the company’s ownership to a charitable trust changed how Forbes assessed his family’s fortune, once estimated at $13.7 billion in 2023.
Nuclear weapons must not be treated as 'routine instruments of statecraft': India slams Pakistan at UN
India told Pakistan at the UN that it would not bow to nuclear blackmail and warned against treating nuclear weapons as routine instruments of statecraft. Exercising its Right of Reply, New Delhi defended Operation Sindoor as a measured act of self-defence after the Pahalgam terror attack and reiterated its zero-tolerance stance on terrorism.
Cube Highways Trust secures Rs.1,150 crore through AAA-rated NCDs
Cube Highways Trust has triumphantly secured Rs. 1,150 crore by issuing senior secured NCDs, boasting a competitive coupon rate of 7.50% per annum, payable quarterly for five years. Major institutional players, Axis Bank Limited and ICICI Bank Limited, were pivotal investors in this transaction. The proceeds will facilitate debt refinancing and support ongoing capital projects, as part of an ambitious financing initiative targeting Rs. 4,500 crore.
At 27, Howard Lutnick helped make $300 million; decades later, he reports $250 million in income as Trump’s Commerce chief
US Commerce Secretary Howard Lutnick reported at least $250 million in income and other proceeds in 2025, his first year in government. Decades earlier, Lutnick had helped Cantor Fitzgerald make about $300 million in profits by the time he was 27. Lutnick remains one of the wealthiest members of US President Donald Trump’s Cabinet, according to reports.
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Will exercise right to defend against terrorism: India at UN
India's external affairs minister S Jaishankar emphasized the nation's right to defend itself against terrorism. He asserted that friendship cannot coexist with terrorism and condemned state-sponsored actions. Jaishankar highlighted the unacceptable attacks on commercial vessels, which have resulted in the loss of Indian seafarers. He reiterated the need for a two-state solution to achieve lasting peace in West Asia.
SBI debits Rs 19.9 lakh for late spouse’s loan, freezes salary account despite not part of the debt; High Court orders it to pay widow Rs 20.9 lakh
Allahabad High Court has ordered SBI to refund Rs 19.9 lakh after the bank used a widow’s fixed deposit to recover her late husband’s personal loan. The court also awarded Rs 1 lakh compensation, after finding that the woman was not a party to the loan and SBI had no legal basis to directly debit her account.
In 1980, Al Pacino took a controversial role in Cruising; years later, he revealed that he donated his entire paycheck to charity
Al Pacino has revealed in his memoir Sonny Boy that he donated his entire paycheck from the 1980 film Cruising to charity. Pacino recalled that the movie became controversial during production, with protesters appearing at filming locations because of concerns about its portrayal of the LGBTQ+ community. Although he did not initially view the film as exploitative, he said his perspective changed after seeing the completed movie. Pacino placed his earnings into an irrevocable trust fund and donated the money anonymously, explaining that he wanted something positive to come from the experience. Director William Friedkin also later reflected on the film’s controversy.
Quote of the day by Fyodor Dostoevsky: 'The price of loving someone very much is never loving again' ; life lessons on how love while giving us joy, can also be painful from Russian literary icon's powerful quote
People yearn to love and be loved. The idea of being in love is something that many of us like. But love has the power to permanently alter us. Heartbreaks can negatively impact our mental health and make us more emotionally guarded, even in a time when relationships are becoming more fleeting. For this reason, renowned Russian novelist Fyodor Dostoevsky bemoaned the fact that love—even real love—had a cost centuries ago.
I-T department to move Supreme Court against HC relief in public trust row
The rift stems from the Income-tax department's demand that deeds of these religious and charitable trusts must categorically state that the trusts are 'irrevocable'.
Should you go with public trust or private trust? Succession planning with trusts explained
If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 93rd part of this series, Riju Mehta explains how various types of trusts differ in their purpose and functioning.
Charitable trusts challenge I-T dept's irrevocability clause
Several public charitable trusts have challenged the Income Tax Department’s insistence that trust deeds must explicitly state they are “irrevocable” to retain tax-exempt status. Trusts and professional bodies argue that the law does not require such a clause and that public trusts are inherently irrevocable unless expressly stated otherwise. The matter is now before the Bombay High Court, with concerns that denial of registration renewals could jeopardise longstanding charitable institutions.
I-T department tells charitable trusts to add 'irrevocable' clause or lose tax benefits
India’s Income Tax Department is pushing charitable trusts to include an ‘irrevocable’ clause in their trust deeds or risk losing key tax benefits under Sections 12A and 80G. Several trusts have already faced rejections, raising concerns among non-profits about stricter scrutiny, foreign spending rules, and tighter compliance norms.
Shielding wealth: It's a matter of trust for promoters
Wealthy Indian families and startup founders are increasingly placing shares in trusts. This trend aims to protect assets, improve tax efficiency, and ensure smooth succession. Prominent business leaders are utilizing these structures. Companies going public are also seeing this shift before their IPOs. Trusts offer greater certainty for wealth transfer compared to traditional wills.
Rupert Murdoch fails in bid to change family trust: Report
Rupert Murdoch's attempt to consolidate control of his media empire under his son Lachlan has been blocked by a Nevada court commissioner. The commissioner ruled against Murdoch's proposed changes to the family trust, which would have given Lachlan ultimate authority. The trust will now divide control equally among Murdoch's four eldest children.
Private Trusts Vs HUFs: Which suits your needs to pass on assets to legal heirs?
Will, gift deed, private trusts are some of the most commonly used methods that an individual can use to pass on the assets to his/her family members. There may be instances where will and/or gift deed does not suit the requirements for passing on the assets. Here an individual can compare between private trusts and Hindu Undivided Family to see if either one suits your requirements.
What is a letter of credit and how to obtain one
A letter of credit works as an assurance given to the exporter that he will be paid by the bank for the trade.
Estate Planning: Your legacy is what matters the most.
To protect your legacy, you should be aware of estate planning
Jack Dorsey, Jay-Z set up Bitcoin endowment ₿Trust with focus on India, Africa
Twitter CEO Jack Dorsey's push for bitcoin development in India comes at a time when the Indian government is looking to introduce a national cryptocurrency.
Silver Lake to buy property websites Zoopla, PrimeLocation for $3 bln
ZPG directors, who are being advised by Credit Suisse and Goldman Sachs, consider the terms "fair and reasonable", ZPG said in the joint statement.
IRB InvIT Fund reports Rs 232 cr net profit in FY18
The IRB InvlT Fund was registered as an irrevocable trust under the Indian Trusts Act, 1882 on October 16, 2015 and as an infrastructure investment trust.
Irrevocable trusts offer max benefit for HNIs
Trusts help HNIs ensure efficient succession planning and may also result in mitigating tax liability.
Budget 2014: 'Finance Ministry may re-introduce Inheritance Tax in near future'
Though India presently does not levy inheritance tax (being abolished in 1985), it is believed that Finance Ministry would re-introduce it in the near future.
Wipro says it meets minimum public shareholding norms
Wipro said it has got SEBI approval on meeting minimum public shareholding norms after it transferred 6.1 crore shares to an independent trust last month.
SEBI okays Wipro proposal to meet public shareholding norms
Wipro today said that it has received SEBI approval for meeting minimum public shareholding norms by transferring shares to an independent trust.
Azim Premji gifts Wipro shares worth Rs 12,300 cr to foundation
Premji transferred close to 300 million equity shares of Wipro, valued at Rs 12,300 cr, held by entities controlled by him to an irrevocable trust.
Azim Premji, Vivek Oberoi among 4 Indians in Forbes' 'Heroes of Philanthropy
Forbes Asia on Thursday announced its 'Heroes of Philanthropy' list for the fourth year running, with four Indians among the top 48 philanthropists.
Tata Tech sells 13% stake for Rs 141 cr to Alpha TC, TCGF
Tata Technologies said it has raised about Rs 141 crore by selling 13.04 per cent equity stake to Alpha TC Holdings and Tata Capital Growth Fund (TCGF)I.
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