Clarification on the definition of "body corporate"

This query is : Resolved

Maitree (Querist)
Follow

04 February 2016 Dear All,
Kindly go through the point (ii) in the definition of "Body Corporate" as mentioned in the Companies Act, 2013 below:
“body corporate” or “corporation” includes a company incorporated outside
India, but does not include—
(i) a co-operative society registered under any law relating to co-operative
societies; and
(ii) any other body corporate (not being a company as defined in this Act),
which the Central Government may, by notification, specify in this behalf;

If we interpret it, it states that body corporate does not include other business entities, which are not registered as company under companies act, which the government specifically excludes. This means that other business entities, other than companies, are also included in the definition of body corporate apart from those which are specifically excluded by the government because if it would have been that body corporate means only companies registered under companies act then there would not have been any scope of clause (ii) in the definition that only government specified other business entities are "excluded" from the purview of "body corporate"

This interpretation is important to confirm whether partnership firms are included under body corporate or not?

Kindly help on the same...

Message likes : 1 times

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

04 February 2016 Yes.but limited liability partnership is bodycorporate and hence reversecharge applicable incase LLP is service receiver

Message likes : 1 times

Maitree

Maitree (Querist)
Follow

04 February 2016 but what about normal partnership firms which are not LLP?

Upgrade to CAclubindia Pro. Subscribe Now!

Suresh Ramaswamy

Suresh Ramaswamy (Expert)
Follow

05 February 2016 LLPs are registered under Companies Act 2013 and hence are deemed to be bodies corporate. However, a non LLP firm will not come under the definition of body corporate since it is not an incorporated body nor is it registered under any provisions of the Companies Act (1913 / 1956 / 2013). Therefore ordinary firms formed / registered under Indian Partnership Act 1932 ARE NOT BODIES CORPORATE.

Message likes : 3 times