FORMATION OF ASSOCIATION

dareson (Querist) 03 June 2008 This query is : Resolved
How many persons are needed to form an 'Association'? Is registration mandatory? what is the fees for registration at Tamil Nadu?

Thanks.

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Guest (Expert) 04 June 2008
What kind of association. Firm or company or society or Association of Persons, Body of Individuals, whether for profitable venture or non-profitable venture. All these details are required to advice.

dareson (Querist) 05 June 2008
Dear Sir, the Association is a Body of individuals engaged in trade activities between India and another foreign country, the association is for profitable venture. Though it could be registered under Indian Companies Act also, I wish to form it as an association. Can foreigners be also included in this association as 'persons forming the association'.

Guest (Expert) 05 June 2008
You may opt for a Society, under the Society Registration Act 1860 or the state Act. In a Society, you can have members of Foreign origin, but with a specific power to reside in India.

Guest (Expert) 06 June 2008
By an Association, do mean AOP or BOI as understood in Income TAx or general law?

We have association like Golf Assocaition who allow foreingers to paly for a payment. They can also take one month membership for a charge and subscription. However they are required to pay only in foreign currency. They donot have any such approval from RBI. The Bankers will be care about those issues.

If you want to collect subscription charges, collect in foreign currency.