Difference between Trust and Society

Difference between 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