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Questions on NGO & Trust/ Society

 

Comparison among Trust, Society and Non Profit Company

 

Trust

Society

Section-25 Comapny

Statute/Legislation

Relevant State Trust Act or Bombay Public Trusts Act, 1950

Societies Registration Act, 1860

Indian Companies Act, 1956

Jurisdiction

Deputy Registrar/Charity commissioner

Registrar of societies (charity commissioner in Maharashtra).

Registrar of companies

Registration

As trust

As Society
In Maharashtra, both as a society and as a trust

As a company u/s 25 of the Indian Companies Act.

Registration Document

Trust deed

Memorandum of association and rules and regulations

Memorandum and articles of association. and regulations

Stamp Duty

Trust deed to be executed on non-judicial stamp paper, vary from state to state

No stamp paper required for memorandum of association and rules and regulations.

No stamp paper required for memorandum and articles of association.

Members Required

Minimum – two trustees. No upper limit.

Minimum – seven managing committee members. No upper limit.

Minimum three trustees. No upper limit.

Board of Management

Trustees / Board of Trustees

Governing body or council/managing or executive committee

Board of directors/ Managing committee

Mode of Succession on Board of Management

Appointment or Election

Appointment or Election by members of the general body

Election by members of the general body

VAT DVAT Registration
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