Society Formation
What is society ?
Society can be described as an association of person united together by mutual consent to jointly or some common purpose.
Pools defines society to include club, institution or organization or Association of persons by hatsoever name called.
The provisions of the Societies Registration Act, 1860 aims at improving legal conditions of societies established for promotion of literature, science or fine arts or for diffusion of useful knowledge or for charitable purposes.
Who can Form a Society?
Society can be formed by minimum seven or more persons, eligible to enter into a contract including the following:-
- Foreigners, even if all the subscribers are foreigners
(There is normally in different state laws on this issue. Some state laws do not permit foreigners to from a society in India. For example, the form of bye-laws prescribed under the M.P.State Society Registration Act. has put a necessary condition for registration that every member should be an Indian citizen).
- Partnership firms.
- A Limited Company.
- A Registered Society.
Purpose for Which a society can be formed-
A society can be formed for the promotion of literature, science or fine arts or the diffusion of useful nowledge/ political education or for charitable purposes. Section 20 of the principal Act specifies the following purpose for which societies may be registered under the Act:
- Grant of charitable assistance.
- Creation of Military orphan funds.
- Societies established at the General Presidencies.
- Promotion of Science.
- Literature
- Fine Arts
- Instructions or diffusion of useful knowledge
- Diffusion of political education
- Foundation or maintenance of libraries or reading rooms
- Public museum and galleries of paintings
- Work of art
- Collections of natural history
- Mechanical and philosophical inventions
- Instruments
- Designs
SUBMIT REQUEST let we assist you in registering your Society.
Legal Structure
|
Classifiaction
|
Trust
|
Society
|
Section 25 Company
|
|---|---|---|---|
|
Law
|
Relevent State Trust Act.
|
Society Registration Act 1860.
|
Under Indian Companies Act 1956.
|
|
Regsitration
|
Under Relevant State Trust Act.
|
Under Society Registration Act 1860.
|
Under Indian Companies Act 1956.
|
|
Document to be Registered
|
Trust Deed
|
Memorandum Of Association and rules and regulation
|
Memorandum of Association And Article of Association
|
|
Members
required |
Minimum 2 Members, No upper Limit
|
Minimum 7 members of the managing committee
|
Minimum 3 trustee,
No upper limit |
|
Tax Structure
|
Tax Exemption Available
|
Tax Exemption Available
|
Tax Exemption Available
|
|
Tax Exemption to the Doner
|
Yes
|
Yes
|
Yes
|
|
Audit Requirement
|
Yes*
|
Yes*
|
Yes
|
|
Time To Register
|
3 -4 Weeks
(Approx) |
3-4 Weeks
(Approx) |
3-4 Weeks
(Approx) |
|
Cost Involved
(All inclusive of taxes) |
Rs 11999**
|
Rs 11199**
|
Rs 24999**
|
*Where the Total Income of the Trust or Institution exceeds in any previous year amount which is not chargeable to Tax.
** Includes (PAN +TAN Application), Bank Account Opening, 1 year Corporate Advisory
