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How is an NGO, a Trust and a Foundation Different?

From a legal standpoint, there is hardly any difference. An NGO or a Foundation cannot be registered. The legal viewpoint is that an NGO has one of three entities; its either a Public Trust or a Society or a not-for-profit organization or foundation. Under the Income Tax Act, all 3 entities are tax-exempt entities.Both trust and society alike are two types of a non-profit or non-government organization in India. Therefore if anyone intends on doing social work and for this purpose needs a legal entity, then either a trust or a society can be registered. One can also register a company under section 25 but in most cases, a registered is a norm or society for benevolent work.Trust is a comparatively simpler entity and can be easily registered and operated. Such organizations are fundamentally rooted in trust. Donations are purely based on trust that the donated funds would be fully utilized to serve the purpose mentioned in one’s trust deed. Trustees do not owe any explanation to anyone other than the Charity Commissioner and the applicable laws. Any tax breaks u/s 80g and 12a can be revoked if trustees do not abide by the rules, laws, and regulations of the Income Tax department. Analyzing NGO Registration people seem to think that even with lack of funds if NGO registration is done then their goals and objectives can be attained. Truth is as quickly as some NGOs are being registered they are also winding up quickly or even leaving it in the middle. If NGOs are registered with the intention or mindset of obtaining external grants and donations then such NGOs would not be sustainable in the long run. A company donating a chunk of funds to charity on a regular basis, then in such cases an NGO can be registered with enhanced sustainability planning.  In India, there are many registered NGOs only on paper and only about a little over half of NGOs are actually working for the betterment of society. NGOs can be formed in no time at all. However, when project funds from local government schemes or contributions from foreign countries are on hold indefinitely then the entire NGO comes to a screeching halt. Rather than looking for easier options for forming an NGO, for NGO registration its imperative to analyze the actual requirement and the strength to form, manage and maintain such NGO is far more important.Call 7604047601 for consultation with a registered expert Trust and Society NGO lawyers on Vidhikarya.

Posted By

Avik Chakravorty

4 weeks ago

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Why is RTI Amendment Bill So Controversial?

Although the Lok Sabha has passed and ratified The Right to Information Amendment Bill 2019 the Opposition is dead against it. Invectives like ‘dangerous’ and ‘dark day for democracy’ have been hurled against the bill. Changes have been suggested in regard to the terms and conditions of appointment of information commissioners at the center and state levels. The three provisions of the RTI amendment bill have been challenged by the members of Opposition in Parliament and by protesters in the field.Nonetheless, prior to going forward, the basic things that the RTI Act of 2005 does is based on the existing law which says that the public authorities are required to disclose on·        their organization, functions, and structure·        rights and duties of its officers and employees·        financial dataIf the public authorities do not provide the required information of their own volition, then, in that case, its citizen’s right to demand it from them based on the RTI Act. "Public authorities" refer to ministers and government servants among others.The head of the central information commission is the chief information commissioner and other information commissioners appointed by none other than the President representing the Central Government for a fixed term of five years with the salary of the chief election commissioner’s, as well as the election commissioner's salary respectively. The intent and purpose of this initiative were granting autonomous powers to the central information commission as well as provide protection from government surveillance. The amendments ` ` ` `The RTI amendment bill of 2019, excludes the five years tenure of the chief information commissioners and the information commissioners. The payouts on account of salary have been revised. Separate notifications will be sent by the government to both. Politically, what this means is that the government can and will pose a threat or entice the chief information commissioner and information commissioners with random removal or extension and curtailment or increase in salary depending upon their suitability for the ruling dispensation.Call 7604047601 for consultation with a registered expert right to information lawyer on Vidhikarya.

Posted By

Avik Chakravorty

1 month ago

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Consult Top Banking Lawyers in India

Advocate Upadhye & Associates

Advocate Upadhye & Associates

Director /Advocate/Head counsel
Exp
Pune , Maharashtra

Specialization

  • Banking
  • Divorce
  • Cyber, Internet, Information Technology
  • Corporate and Incorporation
  • Advertising
Chief Legal Counsel at Advocate Upadhye and Associates View Full Profile
Total Answers Given : 36
parangat  PANDEY

parangat PANDEY

lawyer
Exp
South Delhi , Delhi

Specialization

  • Banking
  • Civil
  • Arbitration And Mediation
  • Adoption
  • Aviation
very sincere and also updated about the latest cases--client is the king for me View Full Profile
Total Answers Given : 7
Ramgopal  Aiyer

Ramgopal Aiyer

Managing Partner
Exp
Mumbai , Maharashtra

Specialization

  • Banking
  • Criminal
  • Cheque Bounce
  • Commercial
  • Family
Managing Partner of Kaleeyantey Law Firm presently having offices in Mumbai and Navi Mumbai handling Litigation and Non Litigation matters on Civil side and Criminal side as well. View Full Profile
Total Answers Given : 3
Nidhi  Mathur

Nidhi Mathur

Managing Partner
Exp
New Delhi , Delhi

Specialization

  • Banking
  • Consumer Protection
  • Civil
  • Employment and Labour
  • Sexual Harassment at Workplace
20 years' experience in Legal & HR fields. Practicing in Supreme Court & Delhi High Court.Practice area include, Litigation,Civil Law, Family Law,Commercial Laws,Sexual Harassment Law, Labour Law, Real Estate, Consumer Law, Cheque bouncing,Contract drafting, NGO, Company Law matters, IPR, Insolvency View Full Profile
Vivek  Tanwar

Vivek Tanwar

Founder/Director, Law Offices of Kr. Vivek Tanwar Advocate & Associates.
Exp
Gurgaon , Haryana

Specialization

  • Banking
  • Criminal
  • Arbitration and Mediation
  • Bankruptcy And Debt
  • Contracts And Agreements
Graduated from MDU, Rohtak, in B.A.LLB. (Hons). Started legal practice in 2000. Appointed as the SPECIAL PUBLIC PROSECUTOR by the Govt. of Haryana, having an excellent record in conducting heinous criminal cases. Member of NPAC & ICABA. A qualified professional conducting successful arbitration. View Full Profile
Jaya  Dhoot

Jaya Dhoot

Advocate
Exp
Jaipur , Rajasthan

Specialization

  • Banking
  • Divorce
  • Criminal
  • Cheque Bounce
  • Child Custody
I am lawyer View Full Profile
Raghavan  Sridharan

Raghavan Sridharan

SR.Advocate
Exp
Chennai , Tamil Nadu

Specialization

  • Banking
  • Civil
  • Administrative Law
Property MATTERS & Legal opinion & drafting.Family law. View Full Profile
ADVOCATE KRISHNA & ASSOCIATES

ADVOCATE KRISHNA & ASSOCIATES

Advocate
Exp
Chennai , Tamil Nadu

Specialization

  • Banking
  • Civil
  • Child Custody
  • Contracts and Agreements
  • Registration
ADVOCATE KRISHNA AND ASSOCIATES a full pledged Property , Family ,corporate lawyers , they are offering legal assistance in High Court and District courts of Chennai. Further the service of this advocates are extended to Family courts, Company low board, DRT & DRAT, labour Court and NCLT View Full Profile
GIRRAJ  PRASAD

GIRRAJ PRASAD

Legal Adviser and Advocate
Exp
Jaipur , Rajasthan

Specialization

  • Banking
  • Divorce
  • Cheque Bounce
  • Consumer Protection
  • Criminal
I am practing advocate since 2013. I am dealing all types of cases such as civil, criminal, settlement, liasoning with authority etc. It is paid service platform where client has to bear nominal amount. So, you shall consider monetary value for service and be ready for payment in given account. View Full Profile
Mandavi  Tripathi

Mandavi Tripathi

Advocate
Exp
East Delhi , Delhi

Specialization

  • Banking
  • Criminal
  • Arbitration and Mediation
  • Financial Markets And Services
  • Adoption
Tripathi law Firm dealing in all type of criminal/civil matter/Service matters & lawyers for high court & supreme court matters.Lawyer for district court.Arbitration & Mediation. View Full Profile
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  • What are the banking laws in India?
  • What are applicable laws and regulations relating to banking?
  • Why do banking laws exist?
  • How does the government regulate the banks in India?
  • Can bank take money out of your account without your permission?

What are the banking laws in India?


Banking laws aim at providing a legal framework to Banking. These law are required for the smooth, and unquestionable process of working of banks, ambiguity or legal hassle of any sort w.r.t banks can result in massive monetary repercussions, these laws aim at the avoidance of those.

Some of the applicable laws to this topic:


  • Negotiable Instruments Act, 1881
  • Banking Regulation Act, 1949
  • Reserve Bank of India Act, 1934
  • Banking Companies (Acquisition and Transfer of Understandings) Act, 1970
  • Finance Act, 2011
  • Foreign Exchange Management Act, 1999

The period of present day banking backpedals to late eighteenth century. Bank of Hindostan was one of the first to be built up in the year 1770. It was the State Bank of India, which established the framework of present day banking in India post-independence in 1955. SBI was the amalgamation of 3 banks subsidized by the pre independence administration government, to be specific Bank of Bengal, Bank of Madras and Bank of Bombay. Concerning the focal banking expert (or might be alluded as statutory body), for long Presidency Banks acted in this position, till in 1935 Reserve Bank Of India (RBI), assumed control over the position, after the 1934 Reserve bank of India act was passed.

As per Section 131 of the Income Tax Act 1961, income tax authorities enjoy the same powers as those vested in a Court under the Code of Civil Procedure 1908. The banker may unveil the condition of his client's record keeping in mind the end goal to legitimately ensure his own particular interest. For instance, if the banker needs to recover the due loan from the client or the guarantor, exposure of important realities to the guarantor or the specialist ends up noticeably vital and is much legitimized.

RBI has made certain guidelines for the facilitation of better experience to the customers. The Banking Regulation Act 1949, gives the Reserve Bank of India (RBI) the ability to license banks, have direction over shareholding and voting privileges of shareholders; oversee the arrangement of the boards and administration; manage the operations of banks; set down guidelines for reviews; control ban, mergers and liquidation; issue orders in light of a legitimate concern for open great and on saving money strategy, and force punishments.

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