Difference between Trust and Society

Difference between Trust and Society  :

S. No.	Basis of Difference	Trust	Society
1.	Registration under	Indian Trust Act, 1882	Societies Registration Act, 1860
2.	Minimum Members	Two	Seven
3.	Area of Activities	All over India, Without mentioning in Deed	Separate registration for All India level (8- different states members required)
4.	Nature of control	One man control, i.e. SETTLER	Democracy system
5.	Possibility of amendment	Easy,  by a supplementary Trust Deed	Difficult, amendment in  MOA and R&R both.
6.	Name Availability	Easily available	Difficulty in availability
7.	Bank a/c operation	One person,  Settler	Two persons, either President or Secretary and Treasurer
8.	Holding of office	Trustees generally hold office for whole life	hold office for period of time and may stand for re-election
9.	Winding-up	Trust is generally irrevocable, Can not be wound-up.	wound up if  3/5th  of the members, so desire
10.	Family Members	Can become trustee	Objection in becoming members of the Governing Body
8.	Examples	Mother Teresa Charitable trust Amar Jyoti Charitable Trust	Trade Associations
9.	Govern by	Board of Trustee	Governing Body
10.	Main Instruments	Trust Deed	Memorandum Of Association & Rules and regulation
11.	Objects	General objectives	Specific objectives -prescribed
11.	Eligible for Income Tax Exemption after Registration u/s 12A & 80G
12.	Eligible for receiving Foreign Contribution after Registration under FCRA
13.	Eligible for receiving Govt. grants and benefits
14.	Profits shall not be distributed to the Trustee/ Members