Write notes on the following: Revocation and Extinction of Trusts.

Revocation of Trust Revocation of a trust is not possible unless: all the beneficiaries give consent; a power of revocation has been reserved in the deed; and in case of a trust for payment of debts, it has not been communicated to the creditors. If the trust property is to be applied for the author's own benefit the trust can be revoked. A power of revocation may with advantage always be reserved in the deed. The declaration of trust for creating provident fund, pension fund, superannuation fund, gratuity fund etc. should be irrevocable. If they are otherwise the recognition under the Income Tax Act, 1961 will not be available to such trusts and in consequence the payment made to such funds will not be allowed as deduction in the hands of the authors of the trusts in their income tax assessments. Extinction of Trust A trust is extinguished: when its purpose is completely fulfilled; or when its purpose becomes unlawful; or when the fulfilment of its purpose becomes impossible by destruction of the trust property or otherwise; or when the trust, being revocable, is expressly revoked.