Good Business Schools have unmatchable demand in all time. A good business school with excellent placement facility can give huge surplus than even business entities. Risk is very less in this field, if it start with quality staff, modern infrastructure facilities, updated course curriculum and better placement tie-ups. Business Schools can be started for charitable purpose or for earning surplus. Recognition from authorities like All India Technical Education (AICTE), Government Universities etc is important for a Business School. In India the government is encouraging Not-for Profit organizations to conduct various courses. So it is better to start it under a Charitable Trust, Charitable Society or a Section 25 Company formed under Indian Companies Act 1956.
Business Schools under Charitable Organizations
Charitable Trust can be registered with the Registrar. Few members can create a Charitable Trust. 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
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 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.
under Commercial Organizations
In some countries Education institutions are allowed to run under commercial organizations.