NGO FORMATION (NON GOVERNMENT ORGANISATION)
NGO an organization created for non profit profit/public charitable purpose, gain derived from the actions of organization used to for the benefit of the general public at large/or for marketing of specific community/development of the society or any other action to promote interest of the public not to the members of their organization.
NGO Legal existence in India can be in the Form of :
- Formation of Trust.
- Society
- Section 8 Companies.
|
Classifiaction
|
Trust
|
Society
|
Section 8 Company
|
|---|---|---|---|
|
Law
|
Relevent State Trust Act.
|
Society Registration Act 1860.
|
Under Indian Companies Act 2013.
|
|
Regsitration
|
Under Relevant State Trust Act.
|
Under Society Registration Act 1860.
|
Under Indian Companies Act 2013.
|
|
Document to be Registered
|
Trust Deed
|
Memorandum Of Association and rules and regulation
|
Memorandum of Association And Article of Association
|
|
Members
required |
Minimum 2 Members, No upper Limit
|
Minimum 7 members of the managing committee
|
Minimum 3 trustee,
No upper limit |
|
Tax Structure
|
Tax Exemption Available
|
Tax Exemption Available
|
Tax Exemption Available
|
|
Tax Exemption to the Doner
|
Yes
|
Yes
|
Yes
|
|
Audit Requirement
|
Yes*
|
Yes*
|
Yes
|
|
Time To Register
|
3 -4 Weeks
(Approx) |
3-4 Weeks
(Approx) |
3-4 Weeks
(Approx) |
- Contains (PAN +TAN Program ), Bank Account Opening, 1 year Corporate Advisory.
- Where the entire Income of the Trust or Institution exceeds in any former year amount that is not chargeable to Tax.
