WHAT IS THE DIFFERENCE BETWEEN A TRUST AND A SOCIETY


  Trust Society Section-25 Comapny
Statute/Legislation Relevant State Trust Act or Bombay Public Trusts Act, 1950 Societies Registration Act, 1860 Indian Companies Act, 1956
Jurisdiction Deputy Registrar/Charity commissioner Registrar of societies (charity commissioner in Maharashtra). Registrar of companies
Registration As trust As Society in Maharashtra & Gujarat, both as a society and as a trust under the Bombay Public Trusts Act, 1950 As a company u/s 25 of the Indian Companies Act.
Registration Document Trust deed Memorandum of association and rules and regulations Memorandum and articles of association. and regulations
Stamp Duty Trust deed to be executed on nonjudicial stamp paper, vary from state to state No stamp paper required for memorandum of association and rules and regulations. No stamp paper required for memorandum and articles of association.
Members Required Minimum – two trustees. No upper limit. Minimum – seven managing committee members. No upper limit. Minimum three trustees. No upper limit.
Board of Management Trustees / Board of Trustees Governing body or council/managing or executive committee Board of directors/ Managing committee
Mode of Succession on Board of Management Appointment or Election Members of the managing committee/governing body generally hold office for a certain period of time and may stand for re-election, if necessary. Election by members of the general body
Winding Up of the NGO - A society may also be wound up if three-fifths of the members of the general body of the society so desire. A society, in other words, is a more flexible and democratic set-up. -