What is the Trust and Society?

 Trust and Society   :                  
S. No.
Basis of Difference
Trust
Society
1.
Registration under 
Indian Trust Act, 1882
Societies Registration Act, 1860
2.
Minimum Members
Two
Seven
3.
Area of Activities
All over India,
Without mentioning in Deed
Separate registration for
All India level (8- different states members required)
4.
Nature of control
One man control, i.e. SETTLER
Democracy system
5.
Possibility of amendment
Easy,  by a supplementary Trust Deed
Difficult, amendment in  MOA and R&R both.
6.
Name Availability
Easily available
Difficulty in availability
7.
Bank a/c operation
One person,  Settler
Two persons, either President or Secretary and Treasurer
8.
Holding of office
Trustees generally hold
office for whole life
hold office for period of time
and may stand for re-election
9.
Winding-up
Trust is generally irrevocable,
Can not be wound-up.
wound up if  3/5th
 of the members, so desire
10.
Family Members
Can become trustee
Objection in becoming members of the Governing Body
8.
Examples
Mother Teresa Charitable trust
Amar Jyoti Charitable Trust
Trade Associations
9.
Govern by
Board of Trustee
Governing Body
10.
Main Instruments
Trust Deed
Memorandum Of Association &
Rules and regulation
11.
Objects
General objectives
Specific objectives -prescribed
11.
Eligible for Income Tax Exemption after Registration u/s 12A & 80G
12.
Eligible for receiving Foreign Contribution after Registration under FCRA
13.
Eligible for receiving Govt. grants and benefits
14.
Profits shall not be distributed to the Trustee/ Members

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