Can public trust do buisness to support social cause
I am a Professor IIT Delhi, specialising on bridge and concrete and its quality control. I also have a public trust called Supratic Trust whose aim include social causes as presented in the Book You must be kidding, Dr. Supratic Gupta, about sports, education, public health, old age, and other social causes. We are also publishing a Youtube series as can be seen in Supratic Trust channel. Go to playlist and see the videos in 4 language. Now all these activities need huge funds and getting funds intially is difficult if not impossible in the begining. As I mentioned, I am a professor of IIT Delhi and I can do lot of productive work for bridges, concrete technology which can earn a lot of money. My PhD students (Graduated students) are interested to work with salary. I wish to earn the profit from these activities to support the activities for the social causes.
At present I am a professor. After retirement, I will work full time for the trust. I am the founding member, and all the activities will be based on my concepts. At that time I plan to take salary but not profit.
I don't need the profit from these activities and happy to dedicate these profits for the social causes. I dont want infighting about the ownership of these funds. The trust already has 12A and 8G provisional certificate.
My question:
a. At present the commercial activities related to concrete, bridge are not included in Trust objective. Can I modify and include them in the trust objective. The Buisness have huge potential and I dont need any financial investement as work is knowledge based.
b. I don't mind to recieve and pay GST for these activities as applicable.
c. Since the profit will be huge (5-20 crores annually) , the social activities will become sustainable.
d. The social projects, in future will also become profitable, they may get donations or can have income in the form of commision or membership fee or usage fees.
Will the profit be tax free so that trusr can spend on social causes? Is it allowed?
The main reason of making public trust is that no one should be the owner of the trust asset or funds. People workinf can get salary. So trust will have TDS, GST but hope to become tax free.
Can I meet someone provide clarification? If any CA has experience and help me, please contact me urgently.
Supratic Gupta