NGO may be defined as an association having a definite cultural, educational, economical, religious or social association organization. They are not owned by any one and cannot distribute profits as such. Whatever profits they may earn from economic activities are reinvested or spent on appropriate non profit activities. The typical sources of revenue or non governmental organizations are donations, membership fees, interest and dividends on investments.Mainly the NGOs can be registered under any of the following Acts:-
- Societies Registration Act, 1860
- Indian Trust Act, 1882
- Companies Act, 1956, u/s 25
Societies are membership organizations that may be registered for charitable purposes. Societies are usually managed by a governing council or a managing committee. Societies are governed by the Societies Registration Act 1860, which has been adapted by various states.
The public charitable trust is a possible form of not-for-profit entity in India. Typically, public charitable trusts can be established for a number of purposes, including the relief of poverty, education, medical relief, provision of facilities for recreation, and any other object of general public utility. Indian public trusts are generally irrevocable. No national law governs public charitable trusts in India, although many states (particularly Maharashtra, Gujarat, Rajasthan, and Madhya Pradesh) have Public Trusts Acts.
A section 25 company is a company with limited liability that may be formed for "promoting commerce, art, science, religion, charity or any other useful object," provided that no profits, if any, or other income derived through promoting the company's objects may be distributed in any form to its members.
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