Charitable Trust formation

If the settlor creates a charitable trust where he decides to transfer property in the future and have that registered with government official then will after the end of the fiscal year it be flagged in the AIS and TIS of the settlor? Give legal oponion in para gormat

If a settlor merely executes and registers a charitable trust deed expressing an intention to transfer a property to the trust at a future date, but does not actually execute and register a separate conveyance, gift deed, or other legally effective instrument transferring ownership during the relevant financial year, such execution of the trust deed by itself would ordinarily not constitute a completed transfer of the property. Consequently, there would generally be no transaction relating to the property to be reported in the settlor's Annual Information Statement (AIS) or Taxpayer Information Summary (TIS) merely because the trust deed has been registered. AIS and TIS are populated from information reported by various authorities and reporting entities, including property registration authorities where a completed and reportable transfer has taken place. Therefore, unless there is an actual transfer of the property during the financial year through a duly executed and registered instrument attracting reporting requirements, it would not ordinarily be expected to appear in the settlor's AIS or TIS for that year. However, if the property is in fact transferred during the financial year by a registered gift deed, conveyance deed, settlement deed, or any other instrument resulting in a reportable transaction, the transaction may be reported to the Income-tax Department by the registering authority and may accordingly be reflected in the settlor's AIS/TIS. Since the reporting depends on the nature of the transaction, applicable reporting thresholds, and the information furnished by the reporting authority, the specific facts and documentation should be carefully examined to determine the reporting consequences.