DIFFERENCE BETWEEN TRUST SOCIETY AND SECTION 8 COMPANY
Updated on : 2020-Nov-27 15:30:48 | Author :
TRUST Trust is calculated to be the oldest form of Charitable organization. Trust can be either private or public. Trust is created for the benefit of a section of people. It is controlled by the Indian Trust Act 1882. The document for registration of Trust is the trust deed. The main subject of the trust is known as Trust Property, and the document paper detailing the terms and conditions is called Trust Deed.
SOCIETY Societies are dominated by the Society Registration Act of 1860. It is usually created by seven or more people who come together for a common charitable objective. The main document for Registration of Society is the Memorandum of Association.
SECTION-8 Section 8 companies are governed by the Companies Act 2013. Section 8 Company requires 2 directors and shareholder for its establishment. The document for registration of Section-8 Company is the Memorandum and Articles of Association filed on non-stamp paper.
|
BASIC DIFFERENCE |
TRUST |
SOCIETY |
SECTION-8 |
|
Governing law
|
Indian Trust Act, 1882 is applicable.
|
Society is legally created under the Societies Registration Act 1860. |
The Companies Act of 2013.
|
|
Registration Document
|
The document for registration of Trust is the trust deed.
|
The document for registration of a society is its Memorandum of Association.
|
The document for registration of Section-8 Company is the Memorandum and Articles of Association.
|
|
At the time of registration numbers of members.
|
At least two trustees.
|
Minimum 7 members. |
At least 2 directors and shareholder. |
|
Board of Management |
Trust controlled by the board of trustees. |
Societies are guided by a managing committee or governing council. |
Section-8 company managed by the board of directors.
|
|
Time period attached in registration
|
15-20 days. |
20-25 days. |
30-45 days. |
|
Change of Registered office |
Difficult
|
Complex
|
Easy
|
|
Cost |
Low |
Medium |
High |
|
Area of operation
|
Whole of India
|
Whole India and National level
|
Whole of India.
|
