Formation of trade association (Business Law)

This query is : Resolved

Author : gulamabbas

PRO CHAT CALL

Posted On 10 July 2012 at 17:33

Sir, Few traders in a particular field intent to form an association to protect interest of the members in the trade. Under which law they can form the association? Which is the authority for registration?

Expert : S Jadhav 98336 98330

PRO CHAT CALL

Posted On 11 July 2012 at 13:03

You can form an association of persons but it is not a good way to form such an association.

You may register it as a society under the Societies Registration Act, 1860 and also register the Trust under the Indian Trusts Act,1882 as revised till date. You may also form a section 25 company.
The benefits of registration under these acts is that you may get tax benefits but do remember that there would be responsibilities also under the law which you have to fulfill.