{"id":13817,"date":"2020-07-28T15:57:56","date_gmt":"2020-07-28T10:27:56","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=13817"},"modified":"2020-07-28T16:14:57","modified_gmt":"2020-07-28T10:44:57","slug":"advantages-offered-by-society-registration-india","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/advantages-offered-by-society-registration-india\/","title":{"rendered":"Know the Advantages offered by Society Registration"},"content":{"rendered":"\n<p class=\"has-drop-cap\">A society is a group of enthusiastic volunteers that acts\njointly for the charitable cause. Society is built to develop knowledge of the\nspecific community and works for the upliftment of various fields such as fine\narts, science, and literature. Apart from that, Society also serves the\nfollowing purpose: <\/p>\n\n\n\n<ul><li>Founding libraries where it is required. <\/li><li>Establishing public museums, reading rooms, a painting gallery.<\/li><li>Preservation of natural history<\/li><li>Accumulating and preserving mechanical &amp; philosophical inventions.<\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"619\" height=\"387\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/07\/image-133.png\" alt=\"Benefits of Society Registration\" class=\"wp-image-13833\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/07\/image-133.png 619w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/07\/image-133-300x188.png 300w\" sizes=\"(max-width: 619px) 100vw, 619px\" \/><\/figure><\/div>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/advantages-offered-by-society-registration-india\/#Advantages_of_Society_Registration\" >Advantages\nof Society Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/advantages-offered-by-society-registration-india\/#Prominent_traits_of_the_Society\" >Prominent traits of the Society<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/advantages-offered-by-society-registration-india\/#Drawbacks_of_an_Unregistered_Society\" >Drawbacks of an Unregistered Society&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/advantages-offered-by-society-registration-india\/#Heres_the_procedure_to_avail_Society_Registration\" >Here&#8217;s the procedure to avail Society Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/advantages-offered-by-society-registration-india\/#Key_points_regarding_Advantages_of_Society_Registration\" >Key points regarding Advantages of Society Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/advantages-offered-by-society-registration-india\/#Conclusion_for_Advantages_of_Society_Registration\" >Conclusion for Advantages of Society Registration<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advantages_of_Society_Registration\"><\/span><strong>Advantages\nof Society Registration<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A registered society is viewed as a separate legal\nentity, and it is granted with certain authority that allows the following\npurposes. Those are as follows:- <\/p>\n\n\n\n<ul><li>Purchase a certain property without legal hassles. Registered Society encounters lesser compliances while vesting the property in its own name. <\/li><li>File cases against the defaulters or in case of a dispute. The registered Society holds the right to enforce proceedings regarding legal affairs in the court.<\/li><li>Avail tax exemption from income tax. The Society working under the act is eligible to <a href=\"https:\/\/corpbiz.io\/income-tax-return-filing\"><strong>file income tax return<\/strong><\/a>. <\/li><li>Carry fewer liabilities. <\/li><li>Shift the old property to another entity without engaging with daunting documentation or stringent compliances. <\/li><li>Protect the properties of the incorporated body against the opponent seeking ownership of the same. <\/li><li>Bypasses the provisions that discourage the opening of a bank account in its name.<\/li><li>Accumulate funds from outside sources. <\/li><\/ul>\n\n\n\n<p>Registered Society has a right to vest the property in\nits name, and it doesn&#8217;t attract any provision related to the transfer of\nownership. A society managed by the overseas candidates in India is still\ndeemed as in Indian Society, and it follows all the provisions of Indian laws. <\/p>\n\n\n\n<p>As per law, unregistered Society is not viewed as a separate legal entity. Thus, such entities don&#8217;t get the opportunity to reap the above benefits. The unregistered Society won&#8217;t cement its place in the legal framework until it opts for registration. To be precise, there are endless Advantages of <a href=\"https:\/\/corpbiz.io\/society-registration\"><strong>Society Registration<\/strong><\/a> to enable the Society to perform without legal hassle. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prominent_traits_of_the_Society\"><\/span><strong>Prominent traits of the Society<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Societies\nRegistration Act is the governing body that controls the conduct of the\nsocieties in India <\/li><li>A minimum of seven\nmembers is required for the establishment of Society. <\/li><li>An MOA* needs to\nfurnish by the Society&#8217;s founding members to the registrar of societies in the\nstate where the Society is located. MOA is a legal declaration the incorporates\nall the elements, including the objectives that reflect the core functionality\nof the Society and its members.<\/li><li>The societies under\nSection 25 have fewer legal obligations to comply with. <\/li><li>Societies hold the\nright to renew the existing workforce working for a common cause. <\/li><li>Society can be\ndissolved easily without interfering with complicated compliance or cumbersome\npaperwork. <\/li><li>The Society operates\nin a democratic framework that discourages monopolization within the hierarchy.<\/li><li>Due to democratic\nprocedures, it easy for the founding members to get rid of opposing entities\ncreating disputes within Society. <\/li><\/ul>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/society-registration-india-documents-required-and-procedure\/\">Society Registration in India: Know the Entire Procedure and List of Documents Required<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Drawbacks_of_an_Unregistered_Society\"><\/span><strong>Drawbacks of an Unregistered Society&nbsp; <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Society cannot act as a separate legal entity until and unless it gets registered under the Societies Registration Act, 1860. <\/li><li>In the absence of registration, the Society cannot hold the right to enforce any legal proceeding in the court for the settlement of legal disputes. <\/li><li>Unregistered societies cannot avail tax exemptions mentioned under <strong>Income Tax Act<\/strong><sup><a href=\"https:\/\/www.incometaxindia.gov.in\/pages\/acts\/income-tax-act.aspx\"><strong>[1]<\/strong><\/a><\/sup><strong>. <\/strong><\/li><li>Society working outside the canopy of the law is viewed as an immaterial entity. <\/li><li>The shifting of properties in the name of the Society is an unrealistic proposition for unregistered Society. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Heres_the_procedure_to_avail_Society_Registration\"><\/span><strong>Here&#8217;s the procedure to avail Society Registration<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>First, the core member needs to finalize the name of Society by mutual consent. <\/li><li>The members have to enact MOA and outline the Society&#8217;s code of conduct.&nbsp; <\/li><li>Next, arrange the following documents seeking approval of its founding members: <\/li><li>Covering letter representing the formal request of registration. It needs to be authenticated by the Society&#8217;s members through signature. <\/li><li>Certified &amp; duplicate copy of the MOA:- A society that enacts MOA* contains the following information. Those are as follows:-<\/li><\/ul>\n\n\n\n<ol><li>Society name decided with the mutual consent of the founding members. <\/li><li>Objective illustrating the role of Society in the context of its work.<\/li><li>Name, designation, and address of the directors, council, or governing body. <\/li><\/ol>\n\n\n\n<ul><li>A copy of the legal\ndocument containing Society&#8217;s rule and regulation. A copy of the same is also\nrequired, and the founding members should sign it. <\/li><li>Original copy of the\naffidavit illustrating the secretary&#8217;s relationship with the subscribers. <\/li><li>Copy of evidence\nproviding address proof of the Society. <\/li><li>These documents, in\ncombination, shall be furnished to the registrar of societies.<\/li><li>The authority will\nthen scrutinize the documents. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_points_regarding_Advantages_of_Society_Registration\"><\/span><strong>Key points <\/strong>regarding Advantages of Society Registration<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Unregistered Society\nis less reliable and vulnerable to dissolution. <\/li><li>Advantages of\nSociety Registration are practically endless and make Society more resilient in\nterms of operation. <\/li><li>It is mandated that\nthe registered Society must file ITR in the predetermined time frame.<\/li><li>Society under\nSocieties Registration Act, 1860, encounters lesser compliance and reaps tax\nexemption. <\/li><li>The founding\npartners should decide Society&#8217;s name through the mutual agreement. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion_for_Advantages_of_Society_Registration\"><\/span><strong>Conclusion<\/strong> for Advantages of Society Registration<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Society is a constitutional body that driven by the effort of volunteers who seek development and nothing else. Registering under the law can enable Society to works at full throttle and reap benefits in terms of taxation and legal obligations. Hence, we can conclude that overlooking registration is not a smart move at all. Society under the Societies Registration Act of 1860 can enjoy endless relaxation from the governing bodies and income tax act. Call our <a href=\"https:\/\/corpbiz.io\/\"><strong>CorpBiz <\/strong><\/a>experts in case if you seek assistance in the context of Society Registration or Advantages of Society Registration, we will be obliged to help you.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/by-laws-of-society-registration\/\">\nBy-Laws of Society Registration: A Comprehensive Guide\n<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A society is a group of enthusiastic volunteers that acts jointly for the charitable cause. Society is built to develop knowledge of the specific community and works for the upliftment of various fields such as fine arts, science, and literature. Apart from that, Society also serves the following purpose: Founding libraries where it is required. [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":13824,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[240],"tags":[808],"acf":{"service_id":"66"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":25702,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/13817"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=13817"}],"version-history":[{"count":19,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/13817\/revisions"}],"predecessor-version":[{"id":13843,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/13817\/revisions\/13843"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/13824"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=13817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=13817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=13817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}