A society is an association of persons united together by mutual consent to deliberate, determine and act jointly for some common purpose. Societies are usually registered for promotion of charitable activities like education, art, religion, culture, music, sports, etc., In India, The Societies Registration Act, 1860 lays down the procedure for society registration and operation in India. The Act has been adopted by most of the State Governments with/without modifications as considered by the respective State Governments.
The process of formation and registration is simple.
Record-keeping requirements are minimum and compliance with regulations is easy.
Cost of compliance is low.
Least possibility of interference by the regulator.
Exemption from tax due to charitable nature of operations.
Tax exemption extended to societies may apply to public trusts only to the extent the Income Tax department accepts their activities as being charitable.
Since such institutions are of charitable nature, it is an inappropriate form of a commercial venture.
The concept of equity investment or ownership is virtually absent; Hence, it is not attractive for commercial investors interested in microfinance.
Commercial investors regard the investments in such entities as risky mainly on account of their lack of professionalism and managerial practices and political leanings( in some cases) and are, therefore, reluctant to provide large scale funding to such bodies.
The Societies Registration Act, 1860 lays down procedure for registration of societies for various bonafide purposes. The registration gives the society a legal status and is essential for:
obtaining registration and approvals under Income Tax Act;
lawful vesting of property in the societies;
provides authenticity and recognition to the society before all authorities and the world at large; and
for opening bank accounts and transaction of business.
When the society is registered, it and its members become bound to the same extent, as if each member had signed the memorandum. Once registered under the Societies Registration Act, the society must restrict its activities to the objects contained in its Memorandum. A society registered under the Act enjoys the status of a legal entity apart from the members constituting it. A society so registered is a legal entity/person similar to an individual but with no physical existence. As such it can acquire and hold property and can sue and be sued in its own name. The society should be registered under the Act to acquire the status of juridical person. In the absence of registration, all the trustees in charge of the fund have alone a legal status and the society has no legal status, and, therefore, it cannot sue and be sued. If a society is not registered, it may exist in fact and theory, but not in the eyes of law. If benefits are to be claimed, the registration of society under the Act us required. An unregistered society cannot claim benefits under the Income-tax act.
According to Section 20 of the Societies Registration Act, 1860, societies can be formed for the following purposes
Besides these purposes, the respective State Governments may provide for any other objects by their legislations
One Time Fee
Service Provide Within 7 Days
One Time Fee
Service Provide Within 15 Days
Services Provided Before the Due Date
A Society is an organized group of people with the single objectives of non-profitable service. Society registration is optional ,society can be sue and be sued . It is an organization of association of persons .
There is at least 3 person who is above 18 can form a society
Society can be form for these following objectives
Art , Fine arts , crafts
Pan card , Residence proof , bank statement ,Memorandum of association , Article of association and a declaration and so more as to be required .
Minutes of meeting books of general , special and annual meetings . Member register , register of shares , debentures and bonds , cash book etc
Member is a person who had joined the application for registration of their society.