A trust, also known as a non-governmental organization, is a non-governmental organization that uses philanthropic efforts to improve society as a whole. Depending on the activity you want to do, you can start it as a trust, a society, or a non-profit organization.
In India, “NGOs” refers to all non-profit organizations, including trusts, societies, and Section 8 companies. An exemption from income tax is available to all non-profit NGOs.
Non-profitable businesses, which refer to conventional businesses that are not making a profit, frequently need to be clarified. Multi Management Services guides clients through the entire NGO company registration process and assists you in making the best decision.
Benefits of NGO Registration in India –
A registered NGO acquires legal status and assumes responsibility for receiving funds. For example, when a person gives money to a charitable trust, the money is received in the trust’s name and used for the trust’s activities. Assets in an unregistered business can be acquired by anyone and used for personal gain.
The moral, social, and legal standards of our society are upheld by a registered non-profit.
A bank account in the name of the NGO is a fundamental requirement for its operation. Registering as a Section 8 company, trust, or society is necessary before opening an account.
An NGO must be registered to request tax exemption from the Income Tax Authority.
Documents Required for NGO Registration –
Before a registered deed is delivered to an NGO, the submission of specific documents is required.
Electricity bill or water bill stating the address must be registered.
Identification documents for at least two company employees. The proof could be:
- Voter ID
- Driving License
- Passport
- Aadhaar Card
Under the Indian Trust Act of 1882, the offline registration process must be completed within thirty days (approx) of paying the registration fee. The settler must be present at the registrar’s office before the deed becomes effective throughout the country.
Anyone can only participate in social activities by forming an association or organization during the NGO registration process in India. However, effective management becomes crucial when a person wants to form a group with volunteers, activities, and resources. A particular set of guidelines must be adhered to to run such businesses, trusts, and societies effectively. We at Multi Management Services ease the procedure of society registration services for our clients and assist them in experiencing a hassle-free option.