Can any explain me definition of Body Corporate n is there is any difference in body corporate n company as per company act 1956?
Naveen Gupta (CA ) (123 Points)
30 October 2009Can any explain me definition of Body Corporate n is there is any difference in body corporate n company as per company act 1956?
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8539 Points)
Replied 30 October 2009
The Companies Act has used an excluding definition for body corporate, defining it as
"Body corporate" or "corporation" includes a company incorporated outside India but doesnot include-
a. a corporation sole
b. a co-operative societyregistered under any law relating to co-operative societies
c. any other body corporate (not being a company company as defined in this Act), which the Central Govt. may, by a notification in the official gazette, specify in this behalf.
Now, the concept of Corporation Sole is not defined anywhere in the Act. But concisely, apart from those excluded specifically, a body corporate means any entity that has its separate legal existence apart from the persons forming it. It enjoys a completely different legal status apart from its members. So, a body corporate shall include:
a company, a foreign company, a corporation, a statutory company, a statutory body, an LLP, etc. and such bodies that have separate legal existence.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 30 October 2009
Hi,
Let me explain you in simple words.
Body corporate is much wider term as compare to company. The term body corporate includes indian company as well as foreign company in its ambit. However the word company includes only a company incorporated under the Companies Act, 1956.
Regards
RAJEEV BHUSAN KESHRI
(Sr Accounts Officer (Tax))
(26 Points)
Replied 29 May 2013
May I request to any one to clarify whether a school registered under Society Registration Act,1860 be considered as Body Corporate to apply the provisions of Service Tax.
Regards
Rajeev.
harsh jain
(staff)
(67 Points)
Replied 12 June 2013
Can a partnership Firm be considered as body corporate??
Ganeshbabu K
(Audit and Tax Advisory)
(48564 Points)
Replied 20 June 2013
Originally posted by : harsh jain | ||
Can a partnership Firm be considered as body corporate?? |
Parnership firm is not a body corporate ,,if it is registered as llp it is body corporate
Thanks & regards
Ganesh babu k
RAJAT AGGARWAL
(Article)
(38 Points)
Replied 19 February 2014
Can a proprietorship concern registered under Central Excise Act 1944, be treated as a body corporate?
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 19 February 2014
1) Proprietorship concern -- It is not a separate legal entity other than its proprietor and hence it is not a body corporate.
2) Society registered under Societies Registration Act is not a body corporate as held by Supreme Court in Board of Trustees Ayurvedic & Unani Tibia Collehe, Delhi v. State of Delhi, AIR 1962 SC 458.
3) Partnership firm is not a body corporate.
4. HUF - is not a body corporate 5. Mutual funds set up as per SEBI regulations run by trustees are not bodies corporate
Following are included in body corporate:
1. All Indian companies registered under Companies Act
2. All foreign companies
3. All corporations formed under special law of India or any other country
4. LLPs
5. Public financial institutions u/s 4A of Companies Act 1956
6. Nationalised banks incorporated under Banking Companies (Acquisition & Transfer of Undertakings) Ac 1970.
vinodpatel
(accountant)
(29 Points)
Replied 26 February 2014
govt.department is body corporate,,like narmada nigam,,gujarat tourium,,
rathod hirenkumar mafatlal
(article)
(37 Points)
Replied 07 August 2014
Body corporate broadly means a corporate entity which has a legal existence.
The term "body corporate" is defined in Section 2(11) of the Companies Act, 2013. This includes a private company, public company, one personal company, small company, Limited Liability Partnerships, foreign company etc.
“body corporate” or “corporation” also includes a company incorporated outside India.
However, body corporate 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 the Companies Act 2013), which the Central Government may, by notification, specify in this behalf;
The above definition is different from the provisions existed in the erstwhile companies Act 1956, which had excluded a “corporation sole” also from the definition of body corporate which was, however, not defined in the Act of 1956
AKSHAY R SHET
(FINANCE)
(48 Points)
Replied 01 January 2015
Is a Multi state co- operative a body corporate ? Is it a body corporate when its name ends with Ltd.?
laxman singh
(accountant)
(26 Points)
Replied 10 December 2015
Body corporate itself contain the Broader sense which consist the expression of Company ,foreign company LLP etc.
amit srivastava
(none)
(21 Points)
Replied 30 December 2015
body corporate means entity having separate legal existence apart from the person forming it. e.g. company , foriegn company, statutory entity, llp etc.
Apeksha
(student)
(22 Points)
Replied 18 January 2016
patnership firm are not Body corporate becauase his not a seprate legal entity
Apeksha
(student)
(22 Points)
Replied 18 January 2016
patnership firm are not Body corporate becauase his not a seprate legal entity