Formation And Establishment
“NGO may be defined as association having a definite cultural, Educational, Economical, Setting Up NGOS Religious or social association organization. They are not owned by any one and cannot distribute its profit/surplus as such. Whatever, Profit/surplus they may earn from economic activities are reinvested or spent on appropriate non profit activities. The typical sources of revenue or non government organizations are donations, Grant, Gift, Membership fee and interest on investment”. Now a days, The word NGO denotes to registered trust, Societies, Cooperative societies, Endowments, Non profit companies, etc. Working for the welfare, Development and progress of people and in a way supplement similar functions of the state and hence, Called as Non Government Organizations (NGOs).
WHAT IS TRUST?
The public charitable trust is a possible form of not-for-profit entity in India. Typically, Public charitable trusts can be established for various purposes, Including the relief of poverty, Education, Medical relief, Provision of facilities for recreation and any other object of general public utility. Public Trusts are generally irrevocable.
Typically, A public charitable trust must register with the office of the Charity Commissioner having jurisdiction over the trust (generally the Charity Commissioner of the state in which the trustees register the trust) in order to be eligible to apply for tax-exemption. In the metro city of India, Trust can be registered in the office of Sub-Registrar