Society Registration In India

A society is an association of several individuals combined using a mutual accord to deliberate, govern and act cooperatively for some communal purpose. Societies are usually registered for the advancement of charitable activities like sports, music, culture, religion, art, education, etc. Society Registration, under, The Society Registration Act, in India, lays down certain procedures for the sake of society registration & operation. This act was implemented with the purpose of augmenting the legal stipulations of society registration for the advancement of literature, fine arts, science or distribution of awareness for bountiful purposes. The society registration act, 1860 has been accepted by several state governments without or with further amendments.

Purpose of Society Registration

A society registration can be done for the development of fine arts, science, or literature or else for diffusion of purposeful knowledge or charitable purposes of political education. According to section 20 of Society Act, 1860, a society registration can be done for following purposes:

  • Promotion of fine arts
  • Diffusion of political education
  • Grant of charitable assistance
  • Promotion of science and literature
  • Creation of military orphan funds
  • Maintenance or foundation of galleries or public museum
  • Maintenance or foundation of reading rooms or libraries
  • Promotion or diffusion or instruction of useful knowledge

Steps for Registering a society In India

A Society can be created by a minimum of 7 or more persons. Apart from persons from India, companies, foreigners, as well as other registered societies can also register for the Memorandum 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. Society registration is maintained by state governments. Thus, the application for society registration must be created to the specific authority of the state, where the registered office of society is situated. For Society registration, the establishing members must agree with the name of society first and then prepare for the Memorandum, followed by Rules & Regulations of the society.

Memorandum of Association

The Memorandum of society along with Rules & Regulations of society must be signed by every establishing member, witness by Gazetted Officer, Notary Public, Chartered Accountant, Oath Commissioner, Advocate, Magistrate first class or Chartered Accountant with their official stamping and complete address. The memorandum must also contain details of members of the society registration along with their names, addresses, designations, and occupations. The following document has to be prepared, submitted and signed for the sake of registration:

  • Requesting society registration by providing covering letter, signed by all establishing members
  • RequestingDuplicate copy of memorandum of association of society along with certified copy
  • RequestingDuplicate copy of Rules & Regulations of society along with duplicate copy duly signed by all establishing members
  • RequestingAddress proof of registered office of society as well as no-objection certificate (NOC) issued by landlord
  • RequestingAffidavit avowed by secretary or president of society declaring relationship among subscribers
  • RequestingFew minutes of meeting regarding the society registration along with providing some essential documents.


SIMPLICITY IN TAX PAYMENT

  • Currently, a startup spends a lot of time and energy to manage the various taxes at various points. It has to deal with VAT, Excise Duty, Service Tax, Octroi, Entry Tax etc. After GST, only one unified tax rate will be applicable. This brings in a major advantage to startup businesses by simplifying the process of tax payment.


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EXEMPTIONS TO NEW BUSINESS

  • Earlier, any business that dealt with goods liable to pay VAT was required to get registration under the VAT act if the turnover crossed Rs. 5 Lakhs. As per the new GST, the limit shall be Rs. 10 lakhs which is a very good thing for startups. Also, businesses with turnover between Rs 10 and 50 lakh are expected to be taxed at a lower rate.

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IMPLEMENTATION OF BUSINESS

  • Any new business needs to have a VAT registration from sales tax department. A business may have to follow unnecessary cumbersome process of registration which may be different in different States. GST will bring about uniformity in process of registration and will only require a centralized registration that will make starting business much simpler.
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SIMPLICITY IN TAX CALCULATION

  • There are many businesses that require the payment of not only Service Tax but also VAT. This makes the calculation for tax very complex. By implementation of GST, only one tax will be required to be calculated and paid. This will make the tax calculation easier.




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