Society registration is a process of legally establishing a group of individuals who come together for a common purpose, such as promoting education, culture, religion, or charity. In this article, we will discuss the benefits of society registration, the documents required for society registration, and the process of society registration.
Benefits of Society Registration:
- Legal Recognition: Society registration provides legal recognition to the group of individuals and their activities. It gives the society a distinct legal identity that is separate from its members, which helps in protecting the interests of its members.
- Tax Exemptions: Registered societies are eligible for tax exemptions on their income, under Section 80G of the Income Tax Act, 1961. This enables societies to save a significant amount of money that can be used for their activities.
- Fundraising: Registered societies can easily raise funds from various sources such as grants from government, corporate houses, and philanthropic organizations. Donors prefer to donate to registered societies as they are more transparent and accountable.
- Perpetual Succession: A registered society has perpetual succession, which means that it can continue to exist even if its members change. This ensures the continuity of the society’s activities and makes it easier to manage its affairs.
- Limited Liability: Registered societies have limited liability, which means that the liability of its members is limited to the extent of their contribution to the society. This protects the personal assets of the members and encourages them to participate in the activities of the society.
Documents Required for Society Registration:
- Memorandum of Association (MOA): It is a document that contains the name of the society, its objectives, and rules and regulations governing its operations.
- Articles of Association (AOA): It is a document that contains the by-laws of the society, which includes the rules and regulations governing its internal affairs.
- Address Proof: A copy of the electricity bill or the property tax receipt of the premises where the society will be located.
- Identity Proof: A copy of the PAN card, Aadhar card, or passport of all the members of the society.
- Passport Size Photographs: Two passport size photographs of all the members of the society.
Process of Society Registration:
- Select the type of society: There are various types of societies, such as charitable societies, educational societies, cultural societies, etc. Choose the type of society based on the objectives of the group.
- Prepare the documents: Prepare the MOA, AOA, address proof, identity proof, and photographs of the members of the society.
- Submit the documents: Submit the documents to the Registrar of Societies along with the registration fee.
- Verification: The Registrar will verify the documents and may ask for additional information or documents.
- Registration Certificate: Once the verification is complete, the Registrar will issue a registration certificate, which will contain the name of the society, its objectives, and the names of the members of the managing committee.
Society registration provides many benefits, including legal recognition, tax exemptions, fundraising opportunities, perpetual succession, and limited liability. To register a society, prepare the necessary documents and submit them to the Registrar of Societies along with the registration fee.