Society Annual Compliance
Valcus's Society Annual Compliance service offers comprehensive and customized compliance solutions for societies. We ensure timely Society Annual Compliance with all legal requirements. Contact us now!
Society registration is governed by state government (s). Thus, the application for society registration needs to be filed to the specific authority of the state, where the registered office of the society is situated. A Society established must have at least 7 persons. Apart from persons from India, companies, foreigners, and other registered societies can also subscribe to the memorandum of association of society. Society Annual Compliance has its limitless importance.
The Registrar of Societies owns the right to register a Society under certain Indian government laws. Society can be established for Social welfare activities such as the promotion of literature, science, or the fine arts or for the diffusion of useful knowledge, or for a charitable purpose. The information on annual compliance of Society can help you abide by the essential compliances and avoid penalties.
Factors to be kept in mind while forming a society under Society Annual Compliance
Minimum 7 members required of which at least one female is compulsory
Signed copy of By-laws by the Secretary, Treasurer, and President
Two Photographs of each proposed member
PAN & Aadhar Copy of all the Proposed Members
Registered office proof including Rent Agreement/ Utility Bill Copy/NOC
Photographs of Office premises
A cover letter mentioning the purpose for which society is being formed.
Since Society is a non-profit organization, it gets tax exemption as per section 12A and the donors also enjoy tax benefits under section 80G of the Income Tax Act, of 1961 respectively.
Society even today is the oldest kind of Non-Profit making organization in India.
A Society is a separate legal entity once registered.
Society has the right to lease, rent, buy & sell property, take money in the form of loans, and enter contracts in its own name. No member of the society has personal rights or interests in any of the assets of the society.
The members of society are not liable for the debts, contracts, or other obligations of society.
Almost everyone is familiar with the name of Society in India as it is the oldest form of NGO.
We, at Valcus, have a team of qualified professionals like CA, CS, Advocates, and others handling diversified client compliance and other needs. We stay committed to completing all your Society Annual Compliances on time. You can carry on your business without any restrictions.
The list of society's annual compliance includes:
At least seven persons are needed to register a Society in India.
You can apply for the registration of a Society online with the required documents like a Covering Letter, Memorandum of Association, etc. and the mandatory fee. For the same, you can seek the consulting of the professional team at Valcus in India.
The society can be established for the reasons including:
A Society can get foreign donations only in case FCRA (Foreign Contribution Regulation Act 1976) registration has been obtained from the Ministry of Home Affairs.
FCRA license can be applied when the Society is at least 3 years older.
Valcus is a registered service provider. The team can help you with compliance for Society at a minimal service charge.