A registered society is viewed as an independent juridical ‘person’. It is different from the people who form it. The registered society can
1. Purchase the property.
2. File cases.
3. It can get exemption from income tax.
4. It has limited liability.
5. Any property held can pass from one generation to another without having to pay any transfer fees or taxes and without any cumbersome documentation.
6. The properties of a an incorporated body can be easily protected from rival claimants and resulting litigants.
Property which is vested in the members of an unregistered society becomes “ property belonging to the society” after registration and , and there is no transfer of ownership.
A society registered in India and having all of its members as foreigners is still an ‘Indian’ society and governed by Indian Laws. Conversely when registered outside and all members are Indian then society is a foreign society.
A unregistered society is not recognised as an independent juridical person under law. Therefore, it does not enjoy the benefits mentioned above. Failure to register the institution gives it no legal face and only the trustees in charge of the fund have a legal status. A promissory note executed in favour of the institution in this event is void and no suit can be instituted to enforce it on behalf of the institution.
Regards
Team Legal Point Foundation
Legal Point Foundation
Deepak Miglani [President]
Dinesh Miglani [Treasurer]
Kamal Jeet [Secretary]
Contact Number:- 9215514435[Haryana],9958086337[Delhi]
Email:- legalbuddy@gmail.com
Website www.legalpoint.in, www.deepakmiglani.com
Legal Tip is being received by approximately 50000 people. One day we will surely remove the legal ignorance from our country.
Do you know that Cohabitation caused by a man deceitfully inducing a belief of lawful marriage is offence which is punishable with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine under Section 493 of I.P.C.
The India Today Magzine [Hindi Edition 10.11.2010] has recognized the efforts of LEGAL POINT FOUNDATION by publishing a story. Please click this link
http://legalpoint-india.blogspot.com/2010/11/story-on-leagl-point-foundation-in.html
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