N) Various options

In such case of Charitable Trust it should be registered as a society first -

Secondly exemption should be from IT department under section 12AA of Income Tax act

Then , there will be no tax on the Income.

It is the second option:

Where the property is held by a private trust (Family Trust)

No need for registering as society,

no need for registration with IT department under 12AA

But, tax will be charged at the rate of 30% of Income,

It will be assessed as Association of persons (AOP).

considering that there will be only rental income in this trust --

(i.e) (That is) (Some buildings will be constructed for rental income)

(and) (some buildings will be constructed for our use)

The taxable income will be negligible after expenses.

There is a third option forming an AOP:

It is a highly flexible agreement, and easy to create, not many conditions.

all kind of rules can be fixed as per our interest,

Only disadvantage is that , it will be taxed at 30%

considering that there will be only rental income in this trust --

(i.e) (That is) (Some buildings will be constructed for rental income)

(and) (some buildings will be constructed for our own use)

The taxable income will be negligible after expenses.

Fourth option :

a) One of the NRI should take the initiative

b) Settle the claim of tenants

c) Buy the share from other family members, who wants to sell at the earliest

d) and develop the land into plots

Fifth option:

a. There are 8 shares in the property

b. The approximate value of each share is around 30-40 lakhs,

c. Who ever willing to sell, can sell the share

d. who ever wants to buy can buy the property.

e. person selling will give the 'discharge document'

f. advantage is that , there is no need of immediate partition.

Sixth option:

Sell the land totally to a buyer.

Seventh option:

- We can make the agreement with real estate developer ( buyer of the land)

- who ever wants to sell their share he can sell.

- Who ever wants to retain the land , he can retain it.

- I will talk to real estate developer and make appropriate arrangement.

Eighth option:

- Keep the property as such,

- do not do anything'

- after 4-5 years, the land can be sold.