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SOCIETY

A society means a group of people coming together my mutual consent to carry out a common activity. All the societies shall need to get registered under Societies Registration Act, 1860. A society can be registered only for grant of charitable assistance, promotion of science, literature and other activities. It has a proper formal legal structure with management lying in the hands of the Governing Body of the Society.

BUSINESS FORMATION














Features:

  • No of members: Minimum of seven members shall be required to register a society. However, no upper limit has been prescribed elsewhere.
  • Eligibility of members: Any person, including a foreign national, a limited company or other registered society can become a member of the society.
  • Fees for admission: All the members of the society shall need to pay the fees at the time of being admitted to the society.
  • Defined governing body: The governing body, who is responsible for managing the affairs of the society, is constituted at the registration of the Society.

Advantages:

  • Separate legal entity: The society enjoys a legal status separate from its members and can acquire and hold property and can sue and be sued.
  • Easy to set up: It is comparatively easy to set up a society, as compared to incorporation of any type of Company;
  • Less regulatory compliances: There are less compliances that need to be abide by Societies in contrast to Companies;
  • Easy to manage: Since the society is set up to undertake a common activity, thus is makes easier for the members to focus and move in one direction;
  • Tax benefits: There are various tax benefits given to religious and charitable societies.
  • Easy alteration of purposes: A society can easily amend or extend the purposes for which the same was registered.

Process for Registration:



Checking for name availability for the society


Drafting of the Memorandum and the rules and regulations of the Society.


Collection of other documents and affidavit stating relationship among members.


Submitting the same with the registrar and obtaining the certificate of registration.


Applying for PAN and other registration under Income tax act and opening of bank account.

Documents for Registration:


  • NOC of the Landlord in case of Rented premises;
  • Copy of property papers in case of owned property;
  • Electricity bill/ water bill/ other proof of the place of business of the Society;
  • Affidavit stating no relationship among the members;
  • ID proof of all members.

FAQ’s


1. Is registration of Society compulsory?

– If society has been set up to undertake any activity such as grant of charitable assistance, promotion of science, literature and other activities as specified under the Societies Registration Act, 1860, then it shall need to be registered.

2. What is the minimum and maximum number of members required for a society?

– A minimum of 7 members is required to set up a Society. However, no upper limit has been prescribed elsewhere.

3. Where is the Society liable to be registered?

– The society shall be registered with the Registrar of the jurisdiction in which such society have its registered place.

4. What is the difference between a trust and the society?

Basis

Trust

Society

No. of members

Minimum: 2
Maximum: NA

Minimum: 7
Maximum: NA

Main document

Trust Deed

By laws and regulations

Statute

Indian Trust Act, 1882

Societies Registration Act, 1860

Objectives

Can be General

Need to be set up for some specific purpose

 

5. What is a General Body of a Society?

– General Body of a society comprises of all the members who have subscribed to the memorandum of the society and is entrusted with the management of the Society.

6. Can a member of the society receive profits?

– A Society registered under Societies Registration Act, 1860, the members are not entitled to receive any profits of the Society.

7. Who is the signing authority of a society?

– Generally all the documents should be signed by the President or the Chairman or the Secretary of the Society or by any other person specifically authorized in this behalf.

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