There is increasing demand for quality education all over the world. Sufficient schools maintaining quality education are not available even in developed Countries. In few countries there are no facilities to continue education after a level. Small Private Schools can be started in proprietorship form. But in India schools are running under not to profit organizations. So the following forms of organizations can be used for setting up of schools. After setting ups schools, recognition from CBSE, ICSE etc are required to take.
Charitable Trust can be registered with the Registrar. Minimum of two members can create a Charitable Trust and there is no maximum limit. After Registration of a Charitable Trust approval u/s 12A can be obtained from Income Tax Department. Exemption u/s 80-G can also be availed from Income Tax Department for accepting donations from public.
Minimum 7 or 8 people can form a Charitable Society and Register it with the Registrar of Societies. After Registration of a Society approval u/s 12A can be obtained from Income Tax Department. Exemption u/s 80-G can also be availed from Income Tax Department for accepting donations from public.
National Level Society can be set up by including members from any 8 states. National Level Society have wide acceptance for charitable activities and it is easy to get different facilities like allotment of land at discounted rate and other government aids.
Section 8 (Section 25) Companies
Section 25 Companies have wider acceptance in the society and before various authorities. These kind of companies have various privileges mentioned in Section 25 of Indian companies Act, 1956. Section 25 companies are those companies which are formed for the sole purpose of promoting commerce, art, science, religion, charity or any other useful object and have been granted a licence by the central government recognizing them as such. Such companies should intend to apply its profits, if any, or other income only in promoting its objects and must also prohibit payment of dividend to its members.
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