Trust, Society and Section 8 company
The not for profit organizations are generally established as charitable associations and conducts activities which benefits to society and general public at large. These associations are popularly known as NGOs and could be established in the form of trust or society or Section 8 company.
The trust could be formed by minimum two members. There are separate trust acts in each state and trust are governed according to these laws. In case there is no separate act in the state, the same is governed under Indian Trusts Act, 1882.
The society is governed by the Society Registration Act, 1860 in India. A minimum of 7 members are required to form a society under the law. The society can be registered at state level or district level and can be established for the promotion of science, literature, or the fine arts, for instruction, the diffusion of useful knowledge or any other purpose. The process for registering of the society varies from state to state.
Section 8 company is formed under Companies Act, 2013 and is established with the objective to promote sports, commerce, art, science, education, research, social welfare, religion, charity, protection of environment or any other such object. There is no minimum capital requirement for the formation of Section 8 company. The compliances under this form are more in comparison to formation of trust or society.
Our team of professionals could assist you in the following aspects:
- Registration of Trust under the relevant Act
- Registration of Society
- Registration of Section 8 company under Companies Act, 2013
- Drafting of the objects/ MOA/ AOA of the NGOs