The main objective of the society is not for profit. It's objectives are to promote fields of arts, commerce, science, researh, education, sports, charity, social welfare, religion, environmental protection etc.,. Society may be formed, by way of a memorandum of association, by any seven or more people associated for any literary, scientific or charitable purpose. The memorandum of association has to be filed with the Registrar of Societies. The memorandum has to contain the name of the society, its objects, and the names, addresses and occupations of the members of the governing body, by whatever name it may be called, duly signed for consent by all the members forming the society. A copy of the rules and regulations of the society also has to be filed along with the memorandum of association. One should check Prevention of Names and Emblems Act before selecting a Society Name. Society Registration is regulated by the District Society Registar.
Who shall register a Society: Any seven or more individuals intending to register an NGO to promote fields of arts, commerce, science, researh, education, sports, charity, social welfare, religion, environmental protection.
The main objective of the Trust is not for profit. It's objectives are to promote fields of arts, commerce, science, researh, education, sports, charity, social welfare, religion, environmental protection etc.,. Trust may be formed, by way of a Trust Deed, by any two or more people associated for any literary, scientific or charitable purpose. The Trust Deed has to be filed with the Office of Jurisdictional Sub-Registrar. One should check Prevention of Names and Emblems Act before selecting a Trust Name. Trust Registration is regulated by the Jurisdictional Sub-Registrar.
The Section-8 Company is one of the types of companies in India, the main objective of this company is not for profit. It's objectives are to promote fields of arts, commerce, science, researh, education, sports, charity, social welfare, religion, environmental protection etc.,. How do Section-8 companies provide these services without revenue? Yes they provide these serices by collecting donations from public, corporates. These companies will get grants from governments. The nature of Section-8 companies are similar to Trust or Society but will have lot of credibility as it is registered under central government and a statutory auditor gives the audit report at the end of the accounting period. It can appeal the public for a great cause and get the donations easily. The donors can verify the financial reports through www.mca.gov.in, the Ministry of Corporate Affairs, government of India web portal. Section-8 Company can be registered as both Private or Public.
The Government of India had announced on 26th January, 2018 that there is zero incorporation fee for the Companies registered with an Authorized Share Capital up to of Rs. 1,000,000/- (Rupees Ten Lakh), subsequently, it had been increased to Rs. 15 lakh. The Stamp Duty on MOA and AOA is not required to pay in most of the states in India. The remaining fee such as Name Availability, Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) is applicable as usual.
Who shall register a Section-8 Company: Any person or an association of persons intending to register a limited liability company for objects specified below can opt to apply for registration of Section 8 Company. The following have to be proved to the satisfaction of the Central Government that: (a) its objects includes promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object; (b) the company after incorporation intends to apply its profits, if any, or other income in promoting such objects only; and (c) the company intends to prohibit the payment of any dividend to its members.
In India, there are mainly the three types of non-profit organizations i.e. Section 8 Companies (earlier Section 25): Societies registered under section 20 of the Societies Registration Act 1860. Trusts formed under Indian Trusts Act 1882. The following are the main differences between Section-8 Company, Trust and Society.
|Governing Law||Companies Act, 2013||Indian Trusts Act, 1982||Societies Registration Act, 1860|
|Rigistering Authority||MCA||Sub-Registrar||Society Registrar|
|Minimum Members||Two||Tow members||7 Members|
|Cost of Formation||High||Medium||Low|
|Grants and Subsidies||High||Medium||Medium|
|Section 80G & 12 A||Allowed||Allowed||Allowed|
|Stamp Duty||To be paid||To be paid||Not required|
|Members||Min of 7||Max of Unlimited|
|President||Min of 1||Max of 1|
|Capital||Min of Rs.7||Max unlimited|
We will draft ByLaws, Rules and Regulations and other documents of the Society.
We will upload the Application forms, Bylaws, Rules and Regulations of the Society online and pay the requisite fee.
After scrutiny, the Registrar will approve the form and issues you the Certificate of Incorporation online.
|Certificate of Registration||Society PAN|
|MSME Registration||Section 12A License|
|ByLaws of the Society||Society TAN|
|GST Registration (GSTIN)||Rules & Regulations of the Society|
|Section-80G Licesne||Niti Ayog Registration Support|
|Import Export Code (IEC)||FCRA Registration|
Now, simply you can open society's current banking account, what you need to do is submit the certificate of registration, by-laws and KYC of the members along with office address proofs with the banker and your bank account will be opened by them.
The society's PAN & TAN will also be applied once the certifiate of registration is generated.
Every supplier shall be liable to be registered under this Act in the State or Union territory, other than special category States, from where he makes a taxable supply of goods or services or both, if his aggregate turnover in a financial year exceeds twenty lakh rupees*:
Provided that where such person makes taxable supplies of goods or services or both from any of the special category States, he shall be liable to be registered if his aggregate turnover in a financial year exceeds ten lakh rupees**.
* This limit is increased to Rs. 40 Lakhs w.e.f 1st April 2019 for all states except the State of Telangana. Special category states ie. Jammu and Kashmir, Ladakh and Assam also opted Rs.40 lakhs limit.
** This limit is increased to Rs. 20 Lakhs w.e.f 1st April 2019 for Special Category States.
We help registering your business under GST by making application online subsequent to the business formation. This GST Registration in India is online and subject to approval with the GST Officer. Normally, with in 4 to 5 days, you will get your GSTIN and some times it may be delayed due to various reasons. If the Society is registered under Section 12AA of the Income Tax Act, 1961 and the services provided by the Society are for charitable cause, then GST is exempted.
Section 80G of the Income Tax Act allows donations made to specified relief funds and charitable institutions as a deduction from gross total income. Section 12A specifies the exemption from paying income tax on surplus income of a specified relief fund or charitable institution.
A charitable institution can apply for exemption under section 12A of the Income Tax Act in Form 10A and also for permission under Section 80G. It is beneficial for both donors and charitable institution if they have both permissions from Income Tax department because the doner can claim deduction from his gross total income and the charitable institution can claim exemption from paying income tax on surplus income.
DARPAN id is required to get Government Grants. NITI Aayog issues this identification number.
If your company wishes to receive contributions, donations from abroad, you need to get license under Foreign Contribution Regulation Act, 2010 (FCRA).
If your company wishes to raise CSR (Corporate Social Resoposibility) Funds, CSR Certificate is required and it is issued by the Ministry of Corporate Affairs (MCA).
One your register your society, you need to file certatain periodic documents with the GST department, Income Tax Department and Other Statutory Department online by paying requisite fee. Apart from filing documents, you need to maintain certain records, registers and maintain books of accounts. You need to prepare the society financials such as Profit & Loss Account, Balance Sheet, Shedules to Accounts, Notes to Accounts etc. Our team of experts will assist you in getting all these compliances done at an affordable cost.
Society can raise donations from public easily. This type of NGOs can get grants from Government easily. The doners will get benefited under section 80G of the Income Tax while filing their Income Tax Return and the company can claim Income Tax benefits under section 12A of the Income Tax Act, 1961 if it gets licenses under Section 80G and 12A.
The cost of formation of Society is much ceaper than that of Section-8 Company or a Trust. No stamp duty is payable at the time of incorporation of Society. Digital Signatures are not required. The Annual Compliance Cost is also lower than Section-8 Company. Only Minutes of the members of the Society is required to be filed with the Society Registrar on annual basis.
The Society can get license under Foreign Contribution Regulation Act, 2010 easily and get contributions, donations and grants from aborad easily. Getting license under Foreign Contribution Regulation Act is easier to the Society.
As an Official Company Registration Agent, we have built strong ties with the Ministry of Corporate Affairs, Govt of India since our own formation. Since we began, our goal has been to provide a seamless incorporation process that is quick and simple to use. Today, our company registration system is one of the most effective and efficient in India. In just over 5 minutes you can submit your new company name application, and often in just 3-5 days, your company will be fully registered. We also keep our company formation pricing competitive, while always exploring innovative ways to provide value to our customers. We are pleased to be one of the most affordable ways to start a company in India.
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Our clients have access to free support from an expert team. We are always on standby to help. If you need assistance at any point before, during, and after the registration of your company, you will be able to reach us by telephone or email.
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Society may be formed, by way of a memorandum of association, by any seven or more people associated for any literary, scientific or charitable purpose. The memorandum of association has to be filed with the Registrar of Societies. The memorandum has to contain the name of the society, its objects, and the names, addresses and occupations of the members of the governing body, by whatever name it may be called, duly signed for consent by all the members forming the society. A copy of the rules and regulations of the society also has to be filed along with the memorandum of association.
Trust may be formed, by way of a Turst Deed, by any two or more people associated for any literary, scientific or charitable purpose. The Trust Deed has to be filed with the jurisdictional Sub-Registrar office.
Section 8 company may be formed with the Ministry of Corporate Affairs, Government of India, by way of a Memorandum and Articles of Association, by any two or more people associated for any literary, scientific or charitable purpose.
No renewal is required.
3 to 4 business days.
The toal governement fee including incidental expenses will be Rs. 2,000/-.
Yes, you can start a Society from your home address too.
Yes, but it is suggested to approach a consultant like us as ByLaws need to drafted legally.
There is no such minimum amount of capital requirement.
Any seven or more Individuals.
There are special requirements to be complied with under the Foreign Contribution and Regulation Act, 2010 before a Society can receive any contributions or donations from overseas/outside India from non-residents. The provisions of the said Act are in addition to the provisions under the Society Registration Act.