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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