What is Society Registration?
As per society registration act 1860, a society is a group or association of individuals incorporated and united for a common purpose of promoting & making advancement in the field of art, education, culture, sports, music etc. Minimum 7 members are needed for the registration of society. It is mandatory for the group of individuals who are planning of forming a society to obtain society registration as per the society registration act, 1860. Therefore, it is essential for the proposed society members to apply for registration of society online to complete the registration process as fast as possible. Society registration is managed by the state government. There are various duties performed by the governing and general body members of the society. The governing body members manage the affairs of the society whereas general member duties include the appointment of governing body members, modification of name, objects and society rules & regulations. A foreigner can also apply to become a society member in India.
Societies Registration Act
Society registration act 1860 is an act introduced in India for the registration of entities established with the objective of benefitting the society by promoting health, education, employment, culture, sports, music etc. The main objective of each & every organization registered under society registration act is charity & not to earn profits. Under the society act, 7 or more person can form a society by way of Memorandum of Association. In order to apply for society registration, proposed society members need to file memorandum of association along with bye laws of society. Memorandum of association should be duly signed after taking consent from all the members of the society. The government fee of Rs.50 is chargeable for society registration.
Purpose of Society Registration
As per society registration act, the main objective of doing society registration is promotion & development of arts, literature or science as well as providing adequate knowledge about these fields to people in order to raise awareness among them. A society is generally registered for charitable purposes. Every registered society must comply with society rules & regulations after online society registration.
As per society registration act, a society can be incorporated for the following purposes –
Memorandum of Association of the Society
The Memorandum of the society along with rules and regulations must be signed by each establishing member and witnessed by Gazetted Officer, Chartered Accountant, first class magistrate, Advocate, Oath Commissioner, Notary Public with their official stamping and complete address. The memorandum of association must also include details of the members of the society registration along with their names, addresses, occupations & designations. For the society registration, the following documents are required to be prepared, submitted and signed -
Request for the registration of the society by providing covering letter signed by all establishing members.
Duplicate copy of Memorandum of society along with certified copy.
Duplicate copy of society’s rules and regulation along with a duplicate copy signed by all the establishing members.
Address proof of society’s registered office along with the NOC (no-objection certificate) issued by the landlord.
Affidavit declaration by secretary or president of the society to explain relationship among subscribers.
Few minutes of meeting regarding society’s registration along with some important documents
Documents Required for Society Registration
Society Registration Procedure
The step by step procedure of incorporating a society is as follows –
Significant Characteristics of Society Registration in India
It is not mandatory to apply for GST registration in case your annual turnover is less than Rs.40 Lakhs (in case of goods) & Rs.20 Lakhs (in case of services) but it is suggested that GST voluntary registration can provide you many benefits under the GST act.
Eligibility to become member in a Society
Not only individuals but companies as well as foreign nationals are also eligible to become a member of the society by subscribing to the memorandum of the society.
Advantages of Society Registration
- Once a society is registered, it will be considered as a separate legal entity
- A society contains the right to buy, sell, rent or lease property.
- A society can borrow money or even enter into any legal contract in its own name.
- A society is provided exemption from Income tax.
- The members of the society are not personally liable for any debt or obligations.
Limitations of Society Registration
- Neither a system of equity investment nor a system of ownership exists in a society.
- It is basically made for benefit of the people of the society and not for the aim of earning profits. It is basically incorporated for a charitable purpose.
- Lack of professionalism
- Not allowed to accept deposits from public.
What Is Included In Our Package?
Society Registration FAQ's
Go to state society registration portal and choose validation to check the society registration online.
In order to renew your society registration, you need to submit the application for renewal after 3 years of registration along with the relevant documents.
- Make a Plan to form an association as per the association guidelines
- Identify other existing associations and define the competition
- Fund your association
- Incorporation your association
The society needs to present a list of the registered societies within 15 days in the general body meeting held each year. The list needs to include the names and addresses of every member of the Executive Committee (Managing Committee) and the officers entrusted with the society administration.
There should be an Executive Committee meeting at least once in three months and there should be a meeting of the General Body at least once in a year. If any modifications take place, the same will be recorded with the registrar. Minutes of meeting will be recorded with the registrar of the society.
According to the by-laws of the society, the society requires to select members of the Executive Committee.
How FinacBooks help in Society Registration in India?
FinacBooks is a leading Indian portal providing accounting, finance & taxation services to small businesses. We are having more than 10 years of experience in helping individuals providing Society registration at a least possible price. We will guide you through the entire process of Society registration. To avail the best deals on Society registration, kindly call us at 8800221252 or you can also e-mail us at email@example.com
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