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Cooperative Society Registration

The process of a cooperative society registration involves individuals voluntarily coming together to meet their common needs. They submit the necessary documents and fulfill the requirements set by the  Registrar of Co-operative Societies for legal recognition. Once registered, the cooperative society operates as a separate legal entity and enjoys benefits and privileges.

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What is the Formation of Cooperative Society Incorporation ?

Cooperative societies are the oldest form of business organization. The registration of a cooperative society is compulsory under the Cooperative Societies Act, 1912.

The Formation of Cooperative Society in Cooperative Societies Act, 1912, or the respective state cooperative societies acts. Similarly, other countries have their laws and regulations governing cooperative societies.

What are the Advantages of Cooperative Society Registeration ?

These are some advantages of coopeerative society registration :

  1. Legal Recognition: A registered co-operative society becomes a separate legal entity, providing it with legal recognition and protection.
  2. Limited Liability: Members of a co-operative society have limited liability, meaning their personal assets are protected in case of any financial liabilities or losses incurred by the society. 
  3. Access to Funds: Co-operative societies can raise funds from their members through share capital and contributions, allowing them to finance their operations and initiatives. 
  4. Tax Benefits: Co-operative societies often enjoy tax exemptions or reduced tax rates on their income, making it more financially favorable compared to other forms of organizations.
  5. Democratic Decision-Making: Co-operative societies follow a democratic decision-making process, where each member has an equal say in the society’s affairs, ensuring inclusivity and transparency.
  6. Social and Economic Development: Co-operative societies promote social and economic development by providing employment opportunities, improving the standard of living, and fostering community development.

What is the Cooperative Society Registration Process ?

These steps are followed for the cooperative society registration process :

  1. Obtain a TAN number and a PAN card for the society.
  2. Acquire a digital signature certificate (DSC) for the society.
  3. Write a registration request and send it to the Registrar of Cooperative Societies.
  4. Prepare and submit the society’s bye-laws to the Registrar.
  5. Pay the enrollment fees.
  6. Submit the required paperwork, including the bylaws, PAN and TAN numbers, and DSC.
  7. Wait for the Registrar’s approval and the insurance of the registration certificate.

Who is not qualified to be a member of cooperative society ?

To apply for membership in a cooperative society, the applicant must not be a member of any other cooperative with similar objectives. Additionally, the applicant should belong to different families and have been a resident of the National Capital Territory. Then he was able to become a member of cooperative society.

What are the documents required for cooperative society registration ?

These are the documents required for cooperative society registration :

– Application form for registration.
– Copy of the proposed society’s bye-laws.
– Address proof of the registered office.
– Identity proof (such as Aadhaar card, PAN card) of the members.
– Passport-sized photographs of the members.
– Minutes of the first meeting of the proposed society.
– Bank account details of the society.

Any other documents as specified by the Registrar of Cooperative Societies

Frequently asked questions on Cooperative Society Registrtaion

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