These are some non-profit organization formed for sake of helping public financially, culturally, socially or some other form for welfare of society. India have certain rules incorporated for forming such organizations. AcTax will work on forming non-profit organization hassle free.
AcTax experts are highly familiar about registration of Societies, Trusts, Association, Co-operative Banks etc., We take care of entire process & complete registration Hassle Free!
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The trust is one of the possible forms of not-for-profit entities in India. Typically, public charitable trusts can be established for various purposes, including the relief of poverty, education, medical relief, provision of facilities for recreation and any other object of general public utility. Public Trusts are generally irrevocable.
The purpose behind starting any trust is to work on charitable activities and at the same point, you can enjoy the advantage of tax exemption. These charitable trusts are otherwise known as a non-profit organization.
Trust gains the legal entity and it can avail all the benefits offered of the trust by the government.
This type of trust is created to furnish benefits to the public at a vast level, therefore the beneficiaries in the type of trust are the general public. Public Trust is further classified into two parts
In this type of trust mostly the family members or individuals are the beneficiaries
A society is an affiliation or tie-up of several individuals aggregated together using a mutual agreement to manage, govern and act as a hand and glove for some common purpose. Societies are basically registered for the progress of charitable or social activities like music, sports, religion, culture, art, education, and so on.
Its an entity or group of people working together not for profits but for the welfare of the general public with an agenda of helping the community has an option of Society registration to gain a legal status. A non-commercial organization with seven or more persons coming together for any scientific, literary or charitable purposes or for purposes as mentioned under section 20 of the Society Registration Act, 1860, may get Society Registration by subscribing their names to a Memorandum of Association and filing the same with the registrar
Societies and Associations can be registered under the Karnataka Societies Registration Act, 1960 for the following purposes:
Select Unique Name to your society or Trust >> Obtain particular Documents from Members/ Trustees >> Draft the Memorandum of Association / Trust deed >> Prepare the Other necessary Documents >> File documents with Concerned Registrar >> Verification process of Documents Submitted to department >> Final Approval & Issuance of certificate by Registrar.
Actax coordinates to fulfill all your legal and financial requirements and connect you to efficient professionals. Our experts will be at your phone call for assisting you with guidance concerning Trust Registration and its compliance for the smooth functioning of your NGO business in Karnataka.
Few best benefits are –
The registered society have right to enforce legal proceedings in Court, avail tax exemptions & can file Income Tax Returns every fiscal year.
The act is defined with many sections & clauses. Click Here for the complete detailed information about Societies Registration Act.
Click here for the detail explanation about Society Registration Act in Karnataka, 1960.
Yes, we do undertake services for Renewal of societies, trusts & Cooperative Banks.
There is no limit on numbers of trust members, however at least 2 trust members should be there for Trust Formation.
Any person within the trust can be a trustee. Normally a person who manages money & assets of trust is called as trustee. They are appointed by Grantor. A grantor can also act as Trustee.
Yes. Click here to download a detailed document about Indian Trusts Act.
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