Trust , socity , aop , boi what should be formed
This query is : Resolved
09 October 2013
Dear All,
In our SHERI(socity) we celebrate every fastivals and we also sale verious sweets on different fastivals... and the contribution is collected from the every resident of our sheri(socity) and the sale procedings are maintained in the funds of the sheri. Where all transaction are in cash.
and now we are deciding to form a legal firm . So plz guide about what kind of formation we should follow, a TRUST or an AOP or a BOI or a SOCITY..and also the procedure for the formation of the same
In our SHERI(socity) we celebrate every fastivals and we also sale verious sweets on different fastivals... and the contribution is collected from the every resident of our sheri(socity) and the sale procedings are maintained in the funds of the sheri. Where all transaction are in cash.
and now we are deciding to form a legal firm . So plz guide about what kind of formation we should follow, a TRUST or an AOP or a BOI or a SOCITY..and also the procedure for the formation of the same
09 October 2013
preferably a religious trust.
02 August 2025
Since your goal is community activity, festival celebration, and social cohesion — not business or profit — you should form a:
✅ Society (under Societies Registration Act, 1860)
Why?
Designed for cultural, social, or welfare activities
Has a democratic structure
Encourages transparency and fund usage rules
You can open a bank account, apply for PAN, and even later get 12AB exemption if needed
✅ Society (under Societies Registration Act, 1860)
Why?
Designed for cultural, social, or welfare activities
Has a democratic structure
Encourages transparency and fund usage rules
You can open a bank account, apply for PAN, and even later get 12AB exemption if needed
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- SFT Cash Deposit in Current Account
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- Multiple trade mark
- When TDS on GST applied
- E-Invoice applicability for new Startup
- Filing of MSME 1 form by companies
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
