RWA - I want to make an Organization to work
10 months ago
I want to make an Organisation to work for the welfare of the Residents of a State in all over India or can be out of India too. Under which act it will be better to register? Trust Act or Society Act ?
A.Dear client,
It is clear that both the organizations i.e. Trusts or society are meant to provide social benefit, and providing social welfare to society at large, they cannot do any other work apart from providing social benefits and what is prescribed in the main documents, the surplus from their business cannot be applied in any other object, i.e. Non-profit organization.
In case if you want a more organized, structural management to provide social benefits to public at large then formation of societies is the ideal choice.
If you desire to provide social welfare as a legal structure of a company, to gain reliability and credibility then form trusts as it is an approved establishment by the central government, with no requirement of higher, more benefits of government subsidies, foreign contribution, more transparency.
It is clear that both the organizations i.e. Trusts or society are meant to provide social benefit, and providing social welfare to society at large, they cannot do any other work apart from providing social benefits and what is prescribed in the main documents, the surplus from their business cannot be applied in any other object, i.e. Non-profit organization.
In case if you want a more organized, structural management to provide social benefits to public at large then formation of societies is the ideal choice.
If you desire to provide social welfare as a legal structure of a company, to gain reliability and credibility then form trusts as it is an approved establishment by the central government, with no requirement of higher, more benefits of government subsidies, foreign contribution, more transparency.
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A.Dear Client,
RWA is formed on collective efforts of the residents and builder of a multistoried Building and registered under Apartments Ownership Act of the respective housing deptt of the State Government. That procedure requires no role to play by a liaison agency like NGO or Society. So such an organization having a purpose or objective alike is not eligible for registration either under Trust Act or Society Act.
RWA is formed on collective efforts of the residents and builder of a multistoried Building and registered under Apartments Ownership Act of the respective housing deptt of the State Government. That procedure requires no role to play by a liaison agency like NGO or Society. So such an organization having a purpose or objective alike is not eligible for registration either under Trust Act or Society Act.
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