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  • Trust/Society/Section-8 Company

    If you are doing any type of charitable activity, certain benefits can be taken by the entity only when the entity is registered as a trust.

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    Why Should You Have Trust Registration?

    The Indian Trust Act, 1882 governs the trust registration and their provision related to that in India.

    If you are doing any type of charitable activity, certain benefits can be taken by the entity only when the entity is registered as a trust.

    The benefit of Trust Registration

      Trust is very effective for reducing the tax liability on income. Trust can be used to mitigate or avoid inheritance tax.

      Trust can also be effective for protection for the settlor, beneficiaries, and trust assets.

      This will add more credibility if the entity is going to involve public money.

      Registered Trust avails certain tax exemption which is allowed as per section 12AB of Income-tax Act,1961.

      For the Preservation Of Family Wealth, trust must utilize some own specific asset like interest Family based business. The trust allows them to take benefits from those assets.

    What are the Document Required for Trust Registration?

      A Drafted Trust Deed.

      Proof of the registered office-Rental Agreement/ Electricity Bill

      ID Proof of the founder of the trust

      Two witness

    Society

    It is the association of individuals with the mutual accord to deliberate, act, and govern for some specific purpose. Societies are usually registered for the advancement of charitable activities like music, culture, sports, art, religion, education, etc. Society is Registered under Section 20 of The Society Registration Act 1860.

    A minimum of 7 persons is required to form a society. Any company, foreigners as well as other registered societies can be a member of the society.

    Similar to Partnership firms, society can also be either unregistered or registered. But, only the registered societies will be able to withstand consigned properties and/or have an ensemble filed against or by the society.

    Registration of Society is regulated by state governments. Thus, the application for society registration must be created to the specific authority of the state, where the registered office of the society is situated.

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    Section-8 Company

    This is one of the types of NGO which is governed by the Companies Act, This is incorporated for various purposes like art, science, research, sports, charity, religion, and similar objectives. This is the limited company without the phrase “limited” added to their name.

    Section 8 Companies is the legal form of “Non-Profit Organizations (NPOs) or Non-Governmental organizations (NGOs)”. A Section 8 Company has the authority to work anywhere in the country.

    What are the documents required to register as a Section 8 Company?

      Director Identification Number (DIN)

      Proof of address i.e. Electricity bill/ Tax bill receipt/ Copy of Rental agreement

      Proof of identity i.e. PAN Card/ Passport/ Driver Licence/ Aadhar Card/ Voters ID

      Passport size photograph of directors

      Articles of Association

      Memorandum of Association

      Digital Signature Certificate